"Knjaz Miloš" registered 7% smaller turnover

- Turnover registered by company "Knjaz Miloš" in 2009 was about 7% smaller than in 2008 - said Rade Pribićević, the Director of Corporate and Regulatory Affairs in "Danube foods group", a part of which is the Aranđelovac-based water factory.

- After first half of this year, turnover was about 7% smaller than the last year, which is the result a bit above the average result of the whole branch whose turnover dropped by about 10% - said Pribićević.

- That is not a secret. The whole mineral water industry experienced certain fall and stagnation because of the crisis. It is well known that the industry used to register annual growth of 10 to 12% and that it was continuously growing - said he and added that it was logical that the water from the stores be replaced with tap water because of the reduced purchase power.

When asked if the management was worried with the fact that the competition in the market was getting stronger, Pribićević said that, in spite of the fact that there were nearly 30 manufacturers of mineral water in the market, "Knjaz" managed to keep one of the leading positions.

- Competition in the branch is very strong. We have been fighting the competition in the market for few years now, and we are not afraid of it. On the contrary, we think it is good for improvement of business - said he.

Pribićević points out that the first signs of economic recovery in the company were expected at the beginning of the next year, as well as that he expected profit to be achieved in 2009 regardless of the circumstances.

- We can not say now when the conditions will be created for sale of the company. That mainly depends on external factors, but what is for sure is that it is not going to happen this year - said he.

According to his words, significant attention is paid to reduction of costs and rationalization of operations, so that it is expected that this year will be ended with a positive result.

- Regardless of the crisis, "Knjaz" still takes active part in sponsorships, and it is onw of the big sponsors of the forthcoming Trumpet Fair in Guča. You can not stop functioning, there is no "status quo" in business, so that we are moving on - said Pribićević.