Sat, Nov 21 2009

Nestle Bulgaria reports 89 per cent growth in profit for 2008

Thu, Jun 18 2009 10:56 CET byNick Iliev 1002 Views
Nestle Bulgaria reports 89 per cent growth in profit for 2008

Range of Nestle products

Nestle Bulgaria has reported a 22.1 million leva growth in profit or the equivalent of 89 per cent, with revenue having risen by 30 per cent up to 267 million leva, a company statement has revealed.

The assets of the chocolate company amounted to 144.9 million leva towards the end of 2008, as opposed to the corresponding period for 2007, when they stood at 108.4 million leva. Short term obligations for 2008 had also increased by 25.6 million leva up to 101.9 million, the report says.

Around 45 per cent of the company's revenue for 2008 springs from sales to 10 major clients – these clients accounted for 43 per cent of the sales last year, whereas 31 per cent of the 2008 revenue was generated from exports, 26 per cent in 2007, Investor.bg has reported.

The company has also reported an increase of staff; 1595 people were permanently employed in 2008, as opposed to 1412 in 2007.

Finally, the report says that in light of the "substantial increase of demand, the firm had boosted its production output in order to cope. It envisages expansion of its distribution centre in the future as well".

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