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Industry gross profit shrank in first quarter

SLOVAK industry closed the first quarter of 2004 with an aggregate gross profit of Sk31.3 billion (€783 million). Compared with the previous year's period, this means a drop by 9.9 percent. Sales, without value-added and excise taxes, rose 11.1 percent to Sk307.1 billion (€7.7 billion), the news wire SITA reported.

This quarter the Slovak industry generated aggregate added value of Sk78.4 billion (€2 billion), up 6.7 percent year on year. Revenues posted a 4.8 percent growth to Sk332.2 billion (€8.3 billion) while total costs rose 6.6 percent to Sk300.9 billion (€7.5 billion).

Employment in the industry continued to decrease. During the first quarter of 2004, the average number of employees decreased by 3.8 percent to 418,096.

The industry’s average monthly wage was Sk16,776 (€420), a 12.9 percent increase.

Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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