Imlek reports consolidated business revenue of RSD 22 billion

Imlek, the largest domestic dairy manufacturer, registered a significant growth of revenues last year, at the level of the whole group, and doubled the final result.

The consolidated business revenue of Imlek amounted to RSD 22.1 billion, 15.5 percent more than one year earlier. It is the outcome of the consolidation of results achieved by the mother company and the subsidiaries whose majority owner is Imlek: Imlek Boka, Macedonia's IMB Mlekara Bitola and IMK Trejd, and Bosnia's East Milk, Mljekara Banjaluka and Mlijekoprodukt from Kozarska Dubica. The business profit of this group was RSD 1 billion higher than in 2009 and amounted to RSD 2.9 billion, while the net profit was nearly doubled, reaching RSD 1.42 billion.

When it comes to positions in the balance sheet, Imlek significantly increased its liabilities. The company's long-term liabilities grew by 52.6 percent, to RSD 4.2 billion, whereas the short-term liabilities rose from RSD 5.2 billion in 2009 to RSD 7.2 billion last year.

Imlek's majority owner is Danube Foods Group, with the stake of 79.4 percent, and that group is run by the management of Salford. In late 2010 Salford announced it would sell all companies it managed in Serbia by the end of 2011, including Imlek and Mlekara Subotica in the dairy industry.