CORPORATE BRIEFS

Jacobs Suchard Figaro nets 873, 000 crowns last year

Chocolate maker Jacobs Suchard Figaro reported a net profit of 873,000 Slovak crowns ($21,000) for the year 1998 on sales of 2.53 billion crowns ($60 million) and total costs of virtually the same amount. Sales were up almost 6% on 1997, but the profit figure was far below the previous year's 92 million crowns.

The firm's total assets sat at more than 1.12 billion crowns in late 1998. Of this amount, current assets accounted for 557.5 million crowns. The company's share capital totals 693.3 million crowns, while its debt burden is 186 million crowns.

1997 sales amounted to 2.39 billion crowns, an increase of 13% from 1996. Net profit in 1997 reported an 11% increase from 1996.

The company will release its official results for 1998 at a general shareholders' meeting on May 19.

Jacobs Suchard Figaro is part of European food concern Kraft Jacobs Suchard, which owns the most popular European chocolate trademark, Milka, as well as the best known coffee brand in Europe, Jacobs. Kraft Jacobs Suchard is a member of the Philip Morris group.

Kraft Foods International owns a 66.7% majority share in JSF, while Prague Investment Partners Holding Cyprus has a more than 10% stake in the company.

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