Last year, the net financial expenditures of the Wimm-Bill-Dann food producer gained 76 percent to $109.5bn against $62.2bn in 2001, an official report of the company says. The company attributes the growth of this figure to $2.9m in expenditures due to a difference in exchange rates, as compared to $2.5m in revenues due to a difference in exchange rates last year.
Wimm-Bill-Dann points out that its regional expansion triggered an increase in commercial expenditures, especially for advertising and staff. "We enhanced our advertising in key markets; the share of regional advertising went up to 14.1 percent of our total advertising and marketing budget," the report says.
The company also reported that in 2002, there were positive dynamics of management expenditures. Their share in revenues dropped to 7.6 percent in 2002 against 8.1 percent in 2001. These expenditures climbed 15.6 percent from $54.2m in 2001 to $63m in 2002. A considerable advance of the company's personnel, from 11,000 in 2001 to 16,000 in 2002, was a consequence of regional expansion, too. This factor led to an increase in the share of expenditures for staff by over 90 percent as compared to 2001.
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