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CORPORATE BRIEFS

Figaro chocolates releases results

According to the latest figures, Jacobs Suchard Figaro a.s. of Bratislava (JSF), continues to lead the Slovak chocolate and sweets industry with a 48% market share. In September 1992, when multinational concern Kraft Jacobs entered Figaro, the company occupied 35% of this market. Since 1994, JSF has been number one in chocolate and sweets production in Slovakia.

Sales of the companies ground coffee brand 'Jacobs' posted a year-on-year increase of 70%, while instant coffee sales were up 10%. The Jacobs brand thus advanced four spots on the ladder of popularity to become the second best selling brand in Slovakia.

Figaro has carved niches on the Russian Czech, Polish and Hungarian markets. Graham Swift, JSF general director, believes that JSF will become the production center of the central European region. Currently, JSF produces about 20,000 tons of chocolate products annually.

JS Figaro's 1H98 net profit totalled almost 25 million Sk, a jump of 14% compared to the same period of 1997. Production recorded a year-on-year growth of 20% to 751.3 million Sk. Ten months into 1998, the company employed 950 people whose average wage totaled 13,000 Sk.

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