Fage Returns To Profitability, Long Term Future International

Greek dairy producer Fage swung back into profit in 2009 but posted a decline in revenues due to a reduction in domestic demand. For the 12 months to the end of December 2009, Fage registered net profit of EUR2.7mn, compared to a loss of ERU11.7mn in 2008 and a loss of EUR19.3mn for 2007. However, net revenues for 2009 came in 6% lower at EUR315mn, with the decline attributable to the economic downturn and exiting less profitable

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