Bega Grup expects 10-15 pct drop in business in 2009

'We expect stagnation in net profit, due to the global financial crisis. However, we will maintain our 2009 investment budget at some 40 million euros, because the loans we have already taken out are now available,' Bega Grup president Marius Cristescu told the Business Standard daily on Thursday.

According to him, the estimated drop will not be registered uniformly by all the group's sectors of activity. Some of these will even post increases. Referring to the real estate sector, Cristescu said that the crisis will force most new investors to resort to renting, as 'rents for industrial spaces will remain constant.'

The group's development strategy could suffer modifications as of 2010, due to the crisis. Bega Grup intended to launch an investment program worth 300 million euros, but 'some of the projects which are to start in 2010 could be postponed or canceled,' he said.

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