FAGE will focus on yoghurt products with new investments abroad

Greek dairy producer FAGE decided to withdraw from the domestic milk market, saying that the sector is non-profitable.

The company has already started negotiations to sell all its properties, plants and equipment of the factory in Amyntaio, Florina.

FAGE will focus on yoghurt products with new investments abroad to cover the needs of international markets.

According to the economic results announced by FAGE International, the company reported sales of 648.22 million dollars in 2015 compared to sales of 667.9 million dollars in 2014 while net profits reached 14.74 million dollars from 0.1 million dollars in 2014.

Sales by volume rose 3.2% last year compared to 2014, with the biggest increase coming from Italy (40.1%) and the UK (32%). In Greece, Fage saw its sales decline by 11.1% in 2015 compared with the previous year.

protothema.gr