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BULGARIA: Zagorka posts $1.8m profit

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The Bulgarian brewery, Zagorka, has posted a profit of Lev4.0m (US$1.8m) for 2001. This represents an improvement of Lev11m from 2000 when the company, which is majority owned by the Brewinvest consortium comprising Heineken and Hellenic Bottling Company, posted an accounting loss.   Brewinvest acquired an 80% stake in Zagorka in 1994 for $21.7m and currently controls 97% of the company. The consortium also owns a majority stake in Bulgarian brewery, Ariana, which recorded a profit of Lev25,000 for 2001, a drop of Lev894,000 from the previous year.


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