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CORPORATE BRIEFS

Tobacco producer S.I.T. reports 545 million 1H99 profit

Slovak International Tabak (S.I.T.) reported a midyear pretax profit of 545 million Slovak crowns ($13 million) on gross sales of 1.7 billion crowns.

In an August 6 press release, the firm reported it had sold almost 2.3 billion cigarettes in Slovakia in the first seven months of this year, 375 million more than in the same period last year. S.I.T.'s market share in Slovakia remains stable at 44%.

S.I.T Bratislava originated from the division of the former Czechoslovak tobacco industry. In 1992, the German company Reemtsma Cigarettenfabriken GmbH Hamburg bought 31% of the Slovak part in the divided company. Reemtsma now owns 100% of S.I.T.

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