Agrana Romania, the leading sugar producer on the local market, posted a net profit worth 15.47 million RON (4.35 million euros) in the first half of this year, 23.5% less in RON against the same time last year. "The profit decline was not generated by bad management, but by financial losses we incurred due to the RON depreciating against the euro, and to bank loans taken out in European currency," said Emilian Dobrescu, general representative of Austrian group Agrana in Romania. Unlike the company's net profit, which saw a decline in the first six months of 2008, the company's turnover went up 41%, from 176.9 million RON in the first half of 2007, to 249.36 million RON (70.2 million euros) in the same period of 2008. "The turnover increase witnessed in the first six months of this year was prompted by the better weather conditions, which contributed to the increase in the volumes sold," said Emilian Dobrescu. Agrana Romania sold 34.7% more sugar in the first half of 2008, against the same period in 2007, when sales amounted to 76,665 tonnes.
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