Projected incomes of "Žitoprodukt" in first half of year 2008 - 353m RSD

The manufacturer of bread and cereal products, "Žitoprodukt", has announced that it plans to realize sales incomes worth 353m RSD in the first half of this year.

According to the six-month business plan, which is published on the web site of the Belgrade Stock Exchange, "Žitoprodukt" from Kragujevac has partially provided wheat, as basic raw material, by crediting suppliers to procure seeds wheat and mineral fertilizer and through procurement based on the payment in advance.

Last year, "Žitoprodukt" had incomes worth 663.7m RSD, 622m RSD of which were the incomes from sales, and it operated with the loss in amount of 11.51m RSD.

The largest were the expenses for the materials – 387.25m RSD, and expenses for wages – 168.26m RSD, while the total expenses reached the amount of 675m RSD.

"Žitoprodukt" has 25,910 stocks, which are present on the Stock Exchange since June 22, 2006. On May 20th, the price of stock amounted to 60,000 RSD.

The largest stockholder of "Žitoprodukt" is the state, which owns 40% of stocks through the Share Fund and the Republic Pension and Disability Insurance Fund, while the rest are the minority stockholders with their shares smaller than 0.2%.