Business News

Lasko Supervisors Endorse Strategy Until 2014

Lasko, 28 September (STA) - The supervisory board of Pivovarna Lasko on Monday endorsed an amended strategy until 2014 under which the group around the beverage company is to transform into a contracting group. The goal of the management, supervisors and creditors is that it should sell newspaper publisher Delo and offload the stake in retailer Mercator.

The strategy also envisages the inclusion of a strategic partner for beverage company Fructal, Pivovarna Lasko said in Tuesday's press release.

The strategy includes an ambitious plan under which the group would increase its sales revenues to EUR 263.3m by 2014, or by 5.1% at the annual level, and raise the annual operating profit to EUR 48.2m.

The strategy also foresees increasing market shares in foreign markets and retaining the position on the domestic market.

Based on the planned desinvestment, the management projects that the group's total debt in the amount of EUR 449m will be reduced to EUR 147m by the end of 2011.

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