Mars ups net profits in Russia 3.3% in 2010
MOSCOW. July 22 (Interfax) - Mars LLC, Mar's subsidiary in Russia, increased net profits 3.3% to 9.5 billion rubles last year from 9.2 billion in 2009.
According to the SPARK-Interfax database, company sales revenues increased 18.8% to 48.7 billion rubles in 2010 (41 billion rubles in 2009).
Sales profits rose to 12.4 billion rubles last year from 10.7 billion rubles the year before.
Mars began operating on the Russian market in 1991 with the creation of the company Master Foods, which sold candy and pet food (M&Ms, Mars, Snickers, Whiskas, Pedigree, and others). In April 1995, a production facility opened in the Moscow Region town of Stupino, and Master Foods was given a name-change to Mars LLC.
The company now has, in addition to the Stupino plant, facilities in Lukhovitsy (Moscow Region), Novosibirsk, and Ulyanovsk Region (pet-food). A candy factory is slated for construction in Ulyanovsk Region. Overall reported investment in the Ulyanovsk project is 4.6 billion rubles, including 1.3 billion rubles in the pet-food factory and 3.3 billion rubles in the confectionery plant.