Viro Increased Profit by 140.7 Percent in the First Half of the Year

The sugar factory Viro achieved a net profit increase to 53.5 million kuna in the first half of this year, which is an increase of 140.7 percent compared to the same period last year, along with a total revenue growth of 47.3 percent, reaching 321.2 million kuna, as announced today by the Virovitica sugar factory.

They emphasize that the significant increase in revenue and profit is a result of implemented investments, which enabled greater processing and production. Thanks to last year’s investments in the construction of a facility for the production of pasteurized sugar solution, as well as the reconstruction of the packaging plant, the realization of finished products has increased, allowing for greater processing of raw sugar, which has resulted in a significant increase in revenue and profit achieved in the first six months of this year. The share of domestic sales revenue increased from 40 percent to 62.1 percent, while at the same time, the share of revenue from foreign sales decreased from 57.7 percent to 33.7 percent. By 2008, Viro intends to increase daily sugar production from the current 750 tons to 1,000 tons, for which a contract was signed in May of this year for the purchase of equipment from the Ormož sugar factory in Slovenia worth 4.5 million euros.

As the Ormož factory is technologically identical to Viro, the new equipment will enable more efficient production and savings in upcoming maintenance interventions, they emphasize from Viro. They add that one of the significant investments this year is the construction of a storage and production hall worth more than 20 million kuna. The statement also emphasizes that in mid-June of this year, the factory was awarded a halal certificate, which indicates that Viro’s production processes and products comply with the food standards of members of the Islamic faith. The halal certificate will enable greater sugar exports to the market of Bosnia and Herzegovina, which is experiencing a constant increase in production for halal products, and will also facilitate obtaining halal certification for large customers and partners of Viro, they emphasize from the company.