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Continental Tobacco unit receives state support

The Hungarian unit of Continental Tobacco, Continental Dohányipari, announced that the government had granted the company HUF 135 million in non-repayable support for its HUF 600 million technological investment.

Continental Dohányipari employs 500 people.

Continental Dohányipari posted net revenue of HUF 13.57 billion and after-tax profit of HUF 295 million in 2007. The company expects to exceed last year's revenue in 2008, though may fall short of its 2007 profit this year as a result of the economic and financial crisis.

Continental Dohányipari spent HUF 3 billion on investments and developments between 2003 and 2007. (MTI – Econews)