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High butter price resulted in record profits and sales of local dairy firms

Last year’s high price of butter resulted in record profits and sales of local dairy firms. The largest of them, Rajo (owned by Meggle of Germany) improved its net profit to €1.3m, and its sales rose 15% to €171.0m. Its record profit will help it absorb the €10m fine the anti-trust authority PMÚ levied on Rajo and five retailers for rigging the prices in 2009-14. Last year, the company invested €7m into cheese production and water cleaning facilities. Wages in the Bratislava plant have risen by €200 over the past three years, to €1,600 a month.

Liptovský Mikuláš-based cheese maker Savacia Fromage & Dairy (owned by Bongrain of France) improved its net profit 63% last year, to €3.3m. Its sales rose 9% to €57.1m.

Michalovce-based cheese maker Syráreň Bel, owned by Fromageries Bel of France (Karička brand), improved its net profit 4% to €3.2m and sales 15% to €88m. Back in 2009 it only had €38m in sales.

Tatranská mliekareň Kežmarok (Mikuláš Bobák) quintupled its net profit to €1.9m in 2019, and its sales rose 11% to €69.3m.

Smaller locally-owned dairy firms Gemermilk (€0.4m) and Levické mliekarne (€0.1m) also improved their net profits. Euromilk of Oszkár Világi managed to reduce its loss to €0.3m.

Táto správa je z Ekonomiky DNES, denného prehľadu najdôležitejších ekonomických správ zo Slovenska.

This news is from the Slovak Business News TODAY, one-page summary of all the important Slovak business news.

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