Setuza lowers profits sharply
Article Abstract:
Setuza (Usti nad Labem, Czech Republic), edible oil and fat producer, decreased its pre-tax profit to CEK 25 mil in 2000 compared to CEK 186 mil in 1999. Its proceeds decreased from more than CEK 5 bil to CEK 4.5 bil during the same period. The main reason for the worsening of the firm's economic results was the rapid growth of the price of rape seed. Setuza purchases rape seed from domestic growers for CEK 8,000 per tonne. The price of rape seed on foreign markets is CEK 1,000 per tonne lower but its imports are burdened with customs duty. Setuza's 2000 results were also influenced by low fat and oil prices in retail chains. The company also included the depreciations of the property of Lukana (Olomouc, Czech Republic) in 2000. Setuza bought Lukana at the end of 2000. Lukana saw proceeds of CEK 2.4 bil in 2000, its profits are included in Setuza's result.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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Setuza lowers its profit
Article Abstract:
Setuza (Usti nad Labem, Czech Republic), food products and chemical firm, saw a profit of CEK 19.6 mil in 2000, CEK 66 mil less compared to 1999. The firm saw a gross profit of CEK 41.956 mil for 1Q 2001, 50% less compared to 1Q 2000. Its proceeds totalled CEK 1.651 bil for 1Q 2001 compared to CEK 1.045 bil for 1Q 2000. The 2000 results do not include the results of Lukana (Olomouc, Czech Republic), which was bought by Setuza at the end of 2000. Setuza produces edible fats, washing powders and semi-products for bio-oil production.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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Comment about this article or add new information about this topic:
Setuza lowers profit
Article Abstract:
Setuza (Usti nad Labem, Czech Republic), fat-based products and chemical goods firm, saw a net profit of CEK 19.621 mil in 2000. The company's proceeds totalled CEK 4.46 bil in 2000, 17% less compared to 1999. Its gross profit amounted to CEK 238 mil in 1999. The firm's products line includes mainly edible oil and fat products, washing powders, toothpastes and soaps.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
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