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Sales (19,131 million pesetas) grew by 16.7%
In the last financial year 1,809 million pesetas were
invested in fixed assets and 757 million in R&D.
In the last quarter the Group made a split of five
shares for one and in this financial year it will adjust
the nominal value of its shares to the euro.
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The Azkoyen Group increased its total sales during 1998
by 16.7% compared with those recorded in the previous
financial year, having achieved a record turnover of 19,131
million pesetas, according to official information supplied
to the National Securities Market Commission. The Group's
management described the general progress of sales in
the last financial year as "satisfactory", both
in the domestic and foreign markets, which now represent
31.4% of the total net sales.
The Azkoyen Group's turnover on the domestic market
increased during 1998 by 13% compared with the same
period in the previous year, while on the foreign markets
the increase was 25%.
The results before tax were 1,932 million pesetas,
an increase of 8.1%. The net profit, taking into account
the effect of tax weighting, was 1,421 million pesetas,
an improvement of 5.3% compared with profits in the
previous year. Investments in fixed assets were 1,809
million pesetas and in research and development, 757
million pesetas.
Azkoyen allocated a total of 748 million pesetas to
return to capital, distributing a dividend of 70 pesetas
per share on the current total shares representing the
capital (10,668,750 shares at 200 pesetas).In the last
quarter of the year, the General Shareholders Meeting
agreed to split the company's shares by one old share
(nominal value of one thousand pesetas) for five new
shares (200 pesetas). The current nominal value of the
shares will be more adaptable to the forthcoming official
price of the euro, according to official sources in
the Azkoyen Group.
In connection with the millennium bug and in response
to the need to adapt its programmes and operating system,
the Azkoyen Group will make investments of more than
200 million pesetas. The unification of management systems
between the different plants and work in real time between
the head office and its subsidiaries will be operational
in the second half of this financial year.
The Azkoyen Group (the national leader in the manufacture
and sale of automatic vending machines, selection mechanisms,
development and monitoring of methods of payment and
catering machinery) involves a total of nine companies:
three industrial plants and six sales companies.
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