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CORPORATE BRIEFS

Rajo Bratislava dairy Q1 profit about 7 million crowns

Dairy company Rajo Bratislava netted about 7 million Slovak crowns in the first quarter of 1998 on sales of 416 million crowns, an increase of 22% over the same period last year. Franz Berghuber, chairman of the Rajo Board of Directors, released the results at a special press conference on May 18 to mark World Milk Day.

Rajo plans to increase its turnover by 20% this year to 1.7 billion crowns, meaning that net earnings should grow to 20 million crowns. Rajo's profit totaled 30 million sk in 1998. In 1997 the company reported losses of 25.5 million Sk. Since the beginning of 1999, Rajo has launched eight new products on the market and plans to come up with another three new dairy products.

Rajo Bratislava was founded on August 1, 1992, under the name Milex Slovakia. At the beginning of 1993, the Vienna-based Schardinger firm bought into the company and gradually acquired 67% of its share assets. In August 1996, the name of the company changed from Milex Schardinger Slovakia to Rajo. Presently, the Austrian firm NOM AG owns a 98.75% stake in Rajo.

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