May 15, 2006

Bird flu costs European poultry producer US$28 million

Bird flu has trimmed the earnings of Slovenia's largest poultry producer, Perutnina Ptuj, by EUR 22.1 million (US$28.3 million), the company's CEO Roman Glaser announced Thursday (May 11).

Sales revenues are expected to total EUR 153.1 million (US$196 million), and profits are estimated at EUR 2.1m (US$ 2.7 million).

Glaser said that although local consumers overcame the initial bird flu fears, exports, which constituted half the revenues, were badly affected.

For example, sales in Italy fell 50-70 percent after bird flu was discovered in the country. 

Glaser added that the company also retrenched 160 workers due to the decline in business brought about by bird flu.