Банкеръ Weekly

Briefs

NESTLE SOFIA AT A PROFIT FOR THIRD YEAR IN A ROW

Nestle Sofia company ended the financial year 2003 at a profit amounting to BGN3.4MN. As the company's executive director Yannis Lazaridis said, the profit was BGN2MN in 2002 and BGN1.6MN a year earlier. Sales revenues in 2003 amount to BGN86MN, up by 27% compared to 2002.Nestle Sofia AD has the strongest positions on the Bulgarian instant coffee market, of which it controls 78.2 per cent. The company also holds 65.7% of the market of instant soups and 17% of the sales of chocolate products. Investments made by Nestle Sofia last year exceed BGN9MN. In 2004, its managers are planning to put more than BGN10MN in a new production line as well as in the construction of another distribution centre.Seventy per cent of the capital of Nestle Sofia is owned by the Swiss Nestle company and the remaining 30% is property of the Ministry of Economy.

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