Sparky Eltos Introduces New Products To Boost Sales

Sparky Eltos Introduces New Products To Boost Sales

Sparky Eltos Jsc () expects this year's sales revenues to reach 89.1 million leva (45.5 million euros) and to grow to 113.2 million leva (57.8 mln euros) in 2009.

Pre-tax profit for the year is estimated at 14.2 million leva (7.2 mln euros) and 2009 profit is seen at 20.1 million leva (10.2 mln euros), according to the unaudited report filed with BSE.

Last year sales revenues stood at 72.263 million leva (36.9 mln euros), which is 40% above 2006 figures, profit came to 9.191 million leva (4.69 mln euros).

As of September 2007 the company's products are sold in the stores of one of the leading retail chains for construction products in Great Britain – Travis Perkins.

Sparky invested some 4 million leva last year mainly in machines, facilities and equipment.

The main objective in Sparky's marketing strategy is to develop and introduce new products in order to be more and more competitive.

In the past years the company has introduced 39 new models of power tools and is currently in the process of developing 12 new ones.

Some 150 million power tools are manufactured in the world each year, compared with 60 million ten years ago. 70% of them are produced in Southeastern Asia.

The construction boom (both contraption of new buildings and repair works) as well as household use of power tools for DIY repairs on homes has increased the demand for such products in Central Europe, in the former Soviet Republics and in the Far East.

Sparky Eltos plans to invest in modern machines and equipment with digital programming with the aim of increasing production capacity, labor efficiency and lowering energy costs.

The company has decided to introduce a new range of professional power tools with Li-Ion batteries, which have become widely used in the world in the past years. The Ni-Cad batteries used so far will go out of use by 2010.

Shares closed at an average of 13.81 leva yesterday, which value the company's market capitalization at 231 million leva (118 mln euros).

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