Business News

Žito Group Ups Profit almost Five-Fold in 2013

Ljubljana, 14 March (STA) - The food group Žito posted a EUR 2.2m net profit last year, which is 455% more than in 2012, while revenues remained almost flat at EUR 111m. The core company more than tripled its net profit to EUR 2.5m, the bread and pasta maker said in a press release on Friday.

Revenues of the core company Žito also remained flat, at EUR 104m, according to unaudited data. The group generated 84% of its revenues on the Slovenian market.

Compared to 2012, earnings before interest, taxes, depreciation and amortization were up by 15.7% to EUR 8.8m, which is in line with plans.

Operating profit at group level was meanwhile up 57% to EUR 3.1m, and was in entirety generated by the core company, which increased its operating profit by 55%.

Labour costs and costs of material, goods and services were reduced by 1% to stand at a total of EUR 101m. In the core company, costs of material, goods and services were up by 1% to EUR 76.1m, while labour costs were down by 1% to EUR 18.5m.

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