Flosman posts record-high profit despite fall in sales in 2011

Tabor, Oct 15 (CTK) - Company Flosman, which has been operating on the Czech food market for 20 years, posted after-tax profit worth Kc26.83m last year, Kc11.5m more than in 2011 and the highest figure in its history, according to the firm's annual report.

Flosman's sales decreased slightly to Kc1.35bn.

"Despite economic recession the sales reached almost the same level as in 2010 as they fell just moderately by 0.7 percent," owner and board chairman Pavel Flosman said.

The company is a partner of nearly 400 outlets of the food retail chain Flop in southern Bohemia, central Bohemia, southern Moravia and the Vysocina region.

Last year it managed to strengthen its position on the market through acquisitions. In January it acquired 30 percent in CEPOS - Ceska potravinarska obchodni, thus becoming the strongest individual owner of the biggest Czech association of wholesale food stores.

Flosman also acquired a majority stake in company POGR.

Flosman, owned by Marcela and Jan Flosmans, emerged in 1999. It is a family firm running 40 own stores, two distribution storehouses and one wholesale storehouse.

Last year it employed 377 people.

Flosman's basic economic indicators (in Kc thousands):

2009 2010 2011
sales 1,438,390 1,358,811 1,349,558
after-tax profit 11,866 15,289 26,829
owner's equity 70,340 82,244 79,875
no. of employees 386 380 377
staff costs 114,828 107,439 107,789

Source: Flosman