Production rises at Petmol - dairy products - Brief Article - Statistical Data Included

Eurofood, March 29, 2001

Petmol of St. Petersburg, a leading producer of -dairy output in Northwest Russia, produced 114 860 tonnes of out, at in 2000, up 2.7% on a year-on-year basis (111,850 tonnes).

Petmol reported to Interfax that it invested RuR15m (561 000 [European Dollar]) replacing old production equipment in 2000, in particular, its juice and milk bottling machinery and a unit for producing processed cheese.

Capital investments for 2001 have been estimated at RuR25.6m, with the money being used to modernise facilities. Net profits in 2000, according to preliminary data, increased 74% to RuR14.9m from RuR8.56m in 1999. Pre-tax profits are RuR9.2m up from RuR20.2m in 1999. Sales earnings rose 16.6% to RuR1.43bn against RuR1.23bn in 1999.

Petmol estimates a 44% rise in pre-tax profits for 2001, reaching a value of RuR29m, with net profits rising 36% to RuR20.3m and sales earnings by 12%. Petmol turns out more than 100 types of output.