Graal stock has been falling in recent weeks on weak first half results. The management calms down that full year’s forecasts will be met.
“We are starting to feel synergies of the restructuring connected with recent acquisitions. Third quarter results are much better than in the previous months. We expect fourth quarter to be even better. This year’s forecasts of PLN 360m of sales and PLN 14m of net income are not endangered”, Boguslaw Kowalski, Graal CEO and main shareholder believed.
With recent acquisitions, including Superfish from Norwegian Orkla, Graal has become Poland’s number one as far as fish products are concerned. The company has 38 percent of canned fish market, 25 percent of pickled fish market, 20 percent of frozen fish market plus over 10 percent of ready-to-eat dishes market.
“We aim to be the leader in all segments of the fish market”, Boguslaw Kowalski said.
Graal will have to compete with Lisner, Frosta, Almar and listed Wilbo and Seko.
The company will soon buy a fishing company operating internationally.
“This will make our group a complete, integrated organization. We are already leading talks with potential partners”, Graal CEO said.
The sales potential of the group is estimated at PLN 600m annually.
“We should increase sales to PLN 800-900m annually within 2-3 year”, Boguslaw Kowalski added.
If the strategy is implemented, Graal will do three times better than its listed rivals. Wilbo and Seko have joints sales of PLN 300m.
(PLN 1 = EUR 0.275)