AUSTRIA: NOM RETURNS INTO THE BLACK

Article Abstract:

Following a restructuring programme that involved job cuts and the streamlining of product range, the Austrian dairy NOM returned into profits in the first half of 1999. The main company, which incorporates the dairy business, made a net profit of Sch 4.1mn, compared with a loss of Sch 88.1mn in the first half of 1998. The result on ordinary activities remained negative, but the loss diminished from Sch 130.2mn to Sch 6.4mn. Turnover fell from Sch 1.35bn to Sch 1.24bn. The entire group, which includes also the quark producer Alois Ernst GesmbH, a property and brand holding company, and the Slovak subsidiary Rajo, made a net profit of Sch 21.9mn (loss of Sch 275.7mn a year earlier) on a turnover of Sch 1.48bn (Sch 1.63bn). Profit on ordinary activities totalled Sch 11.4mn (loss Sch 142.2mn).

Dairy Products, Dairy Product Manufacturing, Nom AG

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AUSTRIA: KASTNER & OHLER IN THE RED

Article Abstract:

Losses of the Austrian department store chain Kastner & Ohler increased in the fiscal year to 28 February 1999. Losses on ordinary activities totalled Sch 22.22mn, after Sch 16.6mn for the previous year. After the retransfer of reserves, profits amounted to Sch 120.3mn. Turnover stagnated at Sch 2.62bn.

Department Stores, Kastner und Ohler Handels AG

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