Business | July 27, 2001, Friday // 00:00

Cigarette maker Bulgartabac Holding`s profit for year 2000 amounts to BGN 11,683,000, which marks an increase by 120% from 1999, the company announced after a general meeting of the shareholders. The meeting decided that the amount of BGN 3,505,000 will be disbursed as dividend, and the remaining part of the profit will be added to the reserve. In 2000 the company produced 26,853 t of cigarettes. Bulgartabac Holding is the majority-owner of seven companies based abroad, namely in Russia, Ukraine, Romania and Serbia. This year the company plans to sell 23,520 t of cigarettes on the domestic market and to export 3,000 t of tobacco products to traditional international markets, half of them to Afghanistan. 2,500 t are to be exported to new market destinations in Africa, Latin America and the Middle East. Economy Minister Nikolai Vassilev has appointed Kaloyan Ninov of the Simeon II National Movement to represent the State in the company`s management.

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