Business News


Profit for No. 1 Spa Operator Down to EUR 1.9m in 2010

Catez ob Savi, 23 April (STA) - The net profit of the tourism group around Terme Catez, Slovenia's biggest spa operator, fell to EUR 1.9m in 2010 compared to the EUR 4.2m recorded in 2009.

According to the company's annual report, total revenues reached EUR 51m, which is more than a 8% increase on the year before.

Terme Catez chairman Bojan Petan attributes part of the decline in profit to the September floods, which caused more than EUR 2m in damage.

Still, the company has extended its streak of successful business years and plans an increase in profit to EUR 3.9m in 2011. Terme Catez earmarked EUR 10.5m for investments this year.

The Terme Catez group consists of the core company, which operates in Catez, Mokrice and Koper, as well as of Marina Portoroz, the Terme Ilidza spa in Sarajevo, Termalna Riviera in Croatia's Novalja, and the Del Nalozbe property management and investment firm. The group had 569 employees at the end of 2010.

At the end of 2010 Terme Catez was in 45.27% ownership of publishing group DZS, 23.79% were held by the state-owned KAD fund, and 9.15% by newsstand operator Delo prodaja.

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