KOPRIVNICA, April 9 (Hina) - A Croatian food-processing factory 'Podravka' realised 79.96 million kuna (9.4 million US dollars) of profit in 2000. The profit in 2000 climbed by four times as against 1999, the company's management said
on Monday in Koprivnica, northern Croatia.
KOPRIVNICA, April 9 (Hina) - A Croatian food-processing factory
'Podravka' realised 79.96 million kuna (9.4 million US dollars) of
profit in 2000. The profit in 2000 climbed by four times as against
1999, the company's management said on Monday in Koprivnica,
northern Croatia.#L#
Podravka saw an increase of four percent in its sale last year when
the sale on foreign markets accounted for 43 percent of earnings
from the sale. The sale abroad rose by six percent, the management
chairman, Darko Marinac, said at a news conference.
Podravka yielded good results last year in view of the fact that
Croatia's market was liberalised with the country's admission into
the World Trade Organisation and with the enhanced competition of
multinational companies.
The company revenue fell by 0.62 to 2.48 billion kuna (292 million
kuna) last year.
Almost one third (27 percent) in the structure of the sale referred
to the sale of the company's best known product - 'VEGETA' spice.
Last year, the company started to enter new markets such as markets
in Romania, Turkey, Greece and Yugoslavia (FRY), where it set up its
branch office.
This year Podravka will continue to improve its production process
as it is one of key conditions for the long-term maintenance of the
company's competitiveness, Marinac said.
Podravka is going to sign an agreement with the International
Finance Corporation, which is a part of the World Bank, on a $40-
million loan.
A half of the loan will be used for rescheduling domestic loans, and
the rest will be used for the development.
(hina) ms