Most powerful distribution exec: It's not the time yet to proclaim victory over the crisis

Rand Sherif, CEO of Interbrands, the biggest consumer goods distributor, expects the road to consumption recovery to have its ups and downs in 2010. The distributor stepped into the black in 2009, "the toughest year for the company". Sheriff states the first two or three months of this year were a continuation of 2009, from the point of view of market conditions. "This year, we still see difficulties on the market, both for consumers, distributors and traders, as well as for the government. It is not the time yet to proclaim victory in fighting the crisis, we should rather be cautious. There will be ups and downs in market resurgence". Sheriff says that market rebound also depends a lot on the situation of agriculture this year. "2009 was a good agricultural year, but will 2010 be the same? " The biggest FMCG distributor saw its turnover slip 39% in 2009, but its profitability rise: EBITDA reached 4% from 1.5% in 2008 amid a 12% cut in operating expenses, according to the data provided by Interbrands CEO.