FAGE sees US sales turnover grow 9.7%

The price of the milk that dairy giant FAGE uses as a raw material in its factories in Greece and the US may have fallen by 36.8% and 15.3% respectively in the first quarter of 2023, but the prices at which the dairy industry sold its products increased on average in all the markets in which it operates by 15.5%.

This results from FAGE's first-quarter financial results that reveal a quadrupling of pre-tax profits, but at the same time a drastic reduction in sales volume in Greece and all other key markets in which the company operates.

However, it also reported 9.7% growth in sales turnover in the US, and 6.7% in the UK.