Gallicoop, one of Hungary’s biggest poultry companies, expects to make a loss in 2012 for the first time in many years as feed prices soar and consumption drops, CEO Istvan Erdelyi said at a press conference.
The company expects to close 2012 with revenue of HUF 33bn, Mr Erdelyi said. Losses will „not be too big” because of incremental price rises started at the end of summer, he added. Last year, the company had after-tax profit of HUF 1.1bn on revenue of HUF 31.7bn. Gallicoop is a fully integrated poultry company, undertaking all aspects of projection. It controls 8pc of the poultry and 37pc of the turkey processing market in Hungary. Next year, Gallicoop aims to process 35,000 tonnes of turkey. The company employs 930 people at its base in Szarvas (SE Hungary).