Czech Rep's Setuza ResultsBelow Expectation

13 November 1995

Setuza, a Czech Republic pharmaceutical, chemicals and food producer, announced sales of 3.02 billion koruna ($114.8 million) for the first nine months of 1995, and pretax profits of 179 million koruna.

Although these results are better than in the corresponding period of 1994, the CTK news agency's Business News reports, they fall below the levels that the company had planned, mainly due to lower chemical and edible oil production. Setuza has said it expects sales for the year as a whole to reach 4.12 billion koruna, 18 million koruna up on the previous year, and pretax profits are forecast at 232 million koruna for this year.

...And Farmakon's New Ownership Announced A tender for the purchase of the Farmakon pharmaceutical producer in the north Moravia region of the Czech Republic has been won by Farmak, a company founded by Farmakon's employees, about half the 600 of whom hold shares in Farmak, reports Business News.

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