Nestle have made a killing in Bulgaria, literally! I see with my own eye the monopoly on advertising on TV, radio, public posters in streets and supermarket. Products that are put in prime position above all other product to sweep the poor Bulgarians off their feet. Targeting the young with fashion conscious and trendy themes is their game. The products are full of chemicals and additives and in most case twice the price of local products, which are just as good if not better. Bullyboy advertising and marketing tactics are paying dividends for Nestle in Bulgaria. I wonder how long will it take for Bulgarian consumers to realise that they are seriously being screwed.
Nestle Bulgaria has reported a 22.1 million leva growth in profit or the equivalent of 89 per cent, with revenue having risen by 30 per cent up to 267 million leva, a company statement has revealed.
The assets of the chocolate company amounted to 144.9 million leva towards the end of 2008, as opposed to the corresponding period for 2007, when they stood at 108.4 million leva. Short term obligations for 2008 had also increased by 25.6 million leva up to 101.9 million, the report says.
Around 45 per cent of the company's revenue for 2008 springs from sales to 10 major clients – these clients accounted for 43 per cent of the sales last year, whereas 31 per cent of the 2008 revenue was generated from exports, 26 per cent in 2007, Investor.bg has reported.
The company has also reported an increase of staff; 1595 people were permanently employed in 2008, as opposed to 1412 in 2007.
Finally, the report says that in light of the "substantial increase of demand, the firm had boosted its production output in order to cope. It envisages expansion of its distribution centre in the future as well".Source: www.sofiaecho.com
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