Alpina posts rise of 2.4% in pre-tax profit for 2005

18 Mar '06

2 min read

Inspite of sales going down, Slovenian footwear manufacturer Alpina was able to announce a pre-tax profit of 2.4 percent with revenue worth tolars211 million (Euro 880,500) in 2005.

Alpina registered a fall of 7 percent in net sales last year with revenues worth tolars11 billion.

This was because of fall in exports of sports shoes to Scandinavian countries and fashion shoes to the U.S, the company said.

Alpina's foreign market sales were 67 percent of its total sales last year, registering a slide from 70 percent in 2004.

Alpina said that the performance in the beginning of the year indicated a possible rise in sales in 2006.

It plans to invest Euro1.7 million ($2.1 million) in 2006 to modernize production facilities and expand its retail network, Alpina said.

It has planned to open 10 stores this year to become the biggest footwear supplier in southeastern Europe.

The company has 116 retail outlets in Slovenia, Croatia, Serbia and Montenegro, Bosnia, Hungary, Bulgaria and Romania.

Slovenian state investment funds SOD and KAD, the European Bank for Reconstruction and Development (EBRD) and Slovenian financial company Maksima Invest had called for a tender earlier this month for sale of Alpina's 56.56 percent share.

It was informed that interested companies could place their bids by March 23.

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