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| 3rd quarter |
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Financial Year:
2001 |
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B) DEVELOPMENT
OF BUSINESS |
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The
breakdown of turnover by lines of business on 30 September
2001 is as follows:
| Line |
Turnover in millions of pesetas | % of total |
| Catering and vending |
10.955 |
50,5 |
| Methods of Payment |
7.233 |
33,3 |
| Coffee |
1.926 |
8,9 |
| Products sold |
1.577 |
7,3 |
| TOTAL |
21.691 |
100,0 |
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The considerable increase in the methods of payment line
is mainly, although not solely, due to the forthcoming
entry into circulation of the single European currency.
Profits before tax were 2,018 million, 65% more than in
the same period of the previous year. The improvement
in profit margins reflected in the income statement for
the period is very significant, as the figure for profits
before tax represents 9.3% of sales, while in the same
period of 2000 this percentage was 6.9%.
This progress in profit margins is due, as well as to
the increase in the volume of sales, to:
Synergies through economies of scale.
Rationalization in the use of human and technical resources.
Improvement in the performance of prices of some raw materials.
The results after tax, which were 1,634 million pesetas
at the end of this period, have increased by 65.6% compared
with the same period of the previous year.
It should be said that the company is in a solid financial
situation, with no debts other than that of the risk through
discounted accounts receivable that are going to come
due for payment.
Investments, which during the period came to 1,208 million
pesetas, were mainly used for renewing machinery, tools
and information equipment. R&D expenditure was 656
million pesetas in these first nine months.
The estimates for the close of the financial year are
very favourable, as we hope to end it with cumulative
sales of more than 28,000 million pesetas.
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