28
082014

ŽITO Group with positive operating results in the first half-year; a reported 21 percent foreign sales growth

Ljubljana, 28 August 2014 – The Žito Group’s Supervisory Board at yesterday’s session discussed the financial report of the Žito Group and Žito d.d. company for the period from January to June 2014. The Žito Group sold €53.7 million, and the Žito d.d. company €49.7 million worth of products and services. The net profit of the Žito Group totalled €603 thousand. However, in the first half-year the Žito d.d. company generated net profit in the amount of €199 thousand. At the General Meeting session the members also elected the new president of the Supervisory Board whose name is Milan Kneževič.

 

Because the term of the current president of the Supervisory Board Tomi Rumpf expired in July this year, the shareholders at the last General Meeting elected a substitute member of the Supervisory Board Rajko Stankovič, however, today the Supervisory Board of Žito elected a new president Milan Kneževič. The deputy president of the Supervisory Board remains Maja Makovec Brenčič, PhD.

Žito Group sales are higher by 1% than in the corresponding period last year. The result from operations of the Žito Group is profit totalling €804 thousand, which is 10% more than in the same period last year when they generated €732 thousand. The net profit of the Žito Group totalled €603 thousand, which is 11% more than in the same period last year when they generated a profit of €541 thousand.

 At the end of the period the Žito Group had 1,134 employees. The financial debt of the Žito Group and Žito d.d. fell by 40%.

»We are pleased with the results of the Žito Group because exports which were set as priority in this year recorded a 21-percent growth of sales in the first half-year. Moreover, an important step in this field was made with bread and pastry products for final baking in the territory of the EU and Southeast Europe. In addition, we successfully completed the first half-year with a number of investments for which we allocated €1.3 million. At the Vrhnika bakery profit centre we automated and modernised the freezing of specialty types of half-baked and frozen breads, we finished the acquisition of a gum candy weighing and packaging machine for the Šumi bonbon d.o.o company. Furthermore, we opened and modernised retail units and centralised the external appearance of retail units in Ljubljana. Part of the investments have been allocated to the modernisation of facilities and warehouses, whereby we ensured the comprehensive regulation of production,« commented Janez Bojc, president of the Management Board of Žito Group who is proud of the awards the Žito products received in the first half of 2014:

  • awards for the quality of bread, pastry products and pasta under the auspices of the Chamber of Commerce;
  • Best Buy award for Zlato polje rice, Zlato polje cereals or breakfast müsli, Maestro spices, Žito rusks and grisini as well as the Žito fresh bakery products;
  • Product of the year award for the HERBA functional gum candy and for Žito wholegrain rolls in the category of frozen and chilled ‘foodstuffs‘;
  • • iTWi Superior Taste Award (the label of the quality of taste) for Žito century bread and buckwheat bread with walnuts.

Half-year report of the Žito d.d. company and Žito Group can be found at this link: Half-year report of Žito Group and the company Žito d d 2014

Additional information:

Nina Rus Turuk,

Public Relations, Žito Group

Phone: 003861 5876 120

E-mail: pr@zito.si

Back to news' list