SIT posts higher 1997 profit

Slovakia's sole tobacco producer, Slovak International Tabak (SIT), 100-percent owned by Germany's Reemtsma Zigarettenfabriken Hamburg, said its after-tax profit in 1997 rose to 329.6 million crowns ($9.42 million) and almost tripled the 1996's figure of 113.92 million. SIT spokesman Jozef Banáš also said the company's overall sales rose to 6.95 billion cigarettes in 1997, slightly up from 6.8 billion cigarettes in 1996. About 4.46 billion were sold in Slovakia, while 2.48 billion were exported to SIT's only foreign market, the Czech Republic. Banáš said the company's 1998 results were likely to be significantly lower due to an increase in local consumer taxes on tobacco and tobacco products, in force since the beginning of this year. "Our original forecast showed that overall sales of legal cigarettes on the Slovak market would decline by around 46 percent in the first quarter of this year, but the actual figure may be even lower," he said.

Top stories

A statue in memory of Eugene Cernan in the Kysuce Museum in Krásno nad Kysucou.

Eugene Cernan – The man on the moon who never forgot his Slovak roots

1974 visit to ancestral home posed problems for communist regime.


8 h

News digest: Fico and Hungary's minister pat each other on the back

Lower VAT for sports facilities and restaurants approved, deadline for Christmas shipments announced.


19 h
People lighting candles in front of the Tepláreň LGBT+ venue on the Zámocká Street.

Survey: October attack shifts support for same-sex partnerships

More than 12 percent of people said the attack changed their opinion.


6. dec

Fuel prices should drop further

Fears of recession pushing down price of oil.


5. dec
SkryťClose ad