Russian ready-to-cook food producer posts 2002 revenues

In 2002, revenues of the St. Petersburg-based food producer Daria jumped to $16m, up 200 percent on 2001. In the reported period, the net loss of the company totaled RUR5.303m (around $175,334), and in the first quarter of 2003 the net loss came to RUR7.517m (nearly $248,536) due to the construction of a new facility in the Leningrad region of Russia.

Daria, a 100-percent subsidiary of the US-based Contony Technology Ltd., specializes in producing ready-to-cook foods. In 2002, the company produced about 23,000 tons of products.

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