Virovitica, August 20th 2007 – All proposed decisions were accepted on Viro sugar factory General Assembly held today.
Shareholders' General Assembly accepted the Board report on Viro sugar factory business operations in 2006 and the report on the Supervisory Board operations. Financial report for 2006 and the division of the profit realized after taxes of 101,814,759.28 kuna were also accepted. According to General Assembly decision, 16,580,004.00 kuna will be used for the dividend payout to shareholders in the amount of 12 kuna per share. Dividend payout will be conducted by October 31st 2007. The remaining 85,234,755.28 kuna will be directed into retained profit.
General Assembly gave authorization to the Board to increase Viro sugar factory equity by a maximum of 124,800,000.00 kuna in the next five years through share emission (approved equity), and approved of the adding of designing, constructing and construction supervision operations in Objects of business.
«With regards to large construction operations which demand the placement of equipment purchased from sugar factory in Ormož, we decided to open our own architectural designing office and hire several engineers to supervise the implementation of the new equipment in Viro» - stated Damir Barić, Viro sugar factory CEO. New equipment will enable the increase of capacities of the sugar factory from Virovitica by 30 percent.
Viro sugar factory realized net profit amounting to 101.81 million kuna in 2006, which represents a 38.40 percent increase compared to 2005, while the profit increased by 26.94 percent to 639.40 million kuna.
In the first half of 2007, Viro realized net profit of 23.5 million kuna, 140.7 percent more compared to the same period last year. Total revenues in the first six months of 2007 amount to 321.2 million kuna and are 47.3 percent higher in comparison to the first half of 2006. |
