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Panvita sluggish in 2016

Murska Sobota, 11 August (STA) - Panvita, one of Slovenia's biggest agrifood companies, saw consolidated revenue decline by almost a tenth to EUR 40.9m in 2016. Net profit declined to EUR 9,000 from almost half a million euros in the year before.

Chairman Peter Polanič told the STA that the company was aiming for similar results this year. It would focus on expansion of sales to foreign markets and securing permits for much needed irrigation systems.

Panvita is the cornerstone of a group that spans crop production, pig breeding, meat processing and wine making.

Its biggest shareholders are retailer Regal trgovina (40%) and pig farm operator Farme Ihan (25%).

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