ECONOMY

Delta says it sees growth ahead after product update

Delta dairy manufacturer said yesterday revenues for this year are expected to increase by 14 percent and pretax profits by 30 percent due to both volume and sales growth and a successful cost-containment strategy. The company expects to see turnover exceed 90 billion drachmas compared with 80 billion drachmas in 2000, and pretax profits rise to 4.5 billion drachmas from 3 billion drachmas last year. Earnings before interest, tax, depreciation and amortization are estimated at 10.5 billion drachmas. Managing Director Anthony Krontiras said the confident forecast is based on expectations of higher sales coming from the launch of new products and increased volume. We have introduced new yogurt and milk products as well as fruit juices to the market, he said. Keeping core costs down is also expected to boost the bottom line. Over the last five years, Delta dairy manufacturer has achieved an average growth rate of 14 percent which is two and a half times higher than its rivals, Krontiras claimed. The company yesterday launched its repackaged milk products, the result of a 2-billion-drachma investment program. The line currently accounts for 55 percent of Delta’s revenues. The changes are expected to add 6 billion drachmas annually to total revenues. Delta’s chocolate milk, called Milko, has acquired a more modern design targeted at the young. It is now available in a 500 ml bottle as well as the traditional plastic cartons. The packaging for the other milk products has been revamped to make it more appealing. All milk products are now stamped with the Olympics 2004 logo, underlining Delta’s status as a sponsor for the event. The company also announced the setting up of a consumer help line, open seven days a week and accessible at 0800-1199-800. Prospects