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YBC maintains last year output, increases profit by 14% in 2008/2009

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  • YBC maintains last year output, increases profit by 14% in 2008/2009

    Yerevan brandy company maintains last year output and increases profit
    by 14% in 2008/2009

    YEREVAN, September 12. /ARKA/. Yerevan Brandy Company managed to
    maintain last production output of 4 million liters and to increase its
    profit by 14% up to 17 billion drams in 2008/2009 financial year
    despite financial and economic crisis, Executive Director of the
    company Ara Grigoryan said.

    Export activities have been also maintained from the last year and even
    a negligible increase has been recorded, Grigoryan said.

    Increase in profits along with unchanged production activities was
    recorded mainly due to change in foreign currency rate. Product cost
    and sales of profitable brandy kinds also had some small contribution
    to the increase.

    Yet, the company also experienced the crisis effects: it failed to
    reach the ambitious 18% growth panned in the beginning of the year,
    Grigoryan said.

    Even a 50% decline was recorded in production as of the end of
    July-August of 2009/2010 financial year as compared with the last year
    level.

    The problem is that Russian market is the main one for Yerevan Brandy
    Company and it is not know when it will start stabilizing, Grigoryan
    said.

    He also reported that no staff reduction was recorded in the company in
    2008/2009 financial year. The company continues providing a full social
    security package to its employees, including health insurance, life
    insurance and insurance against ac
    cidents.

    As a result of the audit carried out by a prestigious international
    audit company, Yerevan Brandy Company received ISO 14001 environment
    management system certificate and OHSAS 18001 human health and safety
    certificate.

    Yerevan Brandy Company was founded in 1887. The modern factory complex
    was put in operation in 1953.

    In June 1998 the company joined the Pernod Ricard group, an
    international corporation owning a number of famous alcoholic drink
    trademark and ranking the second in the world in production and sales
    of alcoholic drinks. Pernod Ricard purchased the Yerevan Brandy Company
    for $30mln at an international tender. ($1=377.11drams). `0--
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