Best SMEs See Yearly Revenue Increases of More Than 20 percent

Bratislava, November 8 (TASR) - The best small and medium-sized enterprises (SMEs) in the Diamonds of Slovak Business ranking have notched up yearly revenue increases of over 20 percent, twice as big as those of large companies, stated the ranking organisers, Forbes magazine and Enterprise Investors, on Friday. The Diamonds of Slovak Business award has been ranking the fastest-growing Slovak small and medium-sized enterprises since 2009. It includes businesses without foreign capital that have reported profits and annual sales of between €5-50 million for at least the past two years. The ranking is based on criteria such as revenue growth, profitability, ethical management practices and the social aspects of business. Heneken Conductors, which specialises in the production of high-voltage conductors at its factories in Slovakia, South Africa, Canada and Turkey, was ranked first in Bratislava. In western Slovakia, Pharmagal-Bio, a leading Slovak producer of veterinary immunological products, took the top spot. In central Slovakia, Coderama, a company specialising in IT outsourcing and developing complex IT solutions, ranked highest. In eastern Slovakia, Vamex, the country's largest bakery firm, stood out for producing over 20 types of bread and more than 50 other baked goods. A special 'Innovative Company of the Year' award was given to Unimed Pharma. Martin Chocholacek, vice-head of Enterprise Investors, pointed out that although small and medium-sized enterprises are the backbone of the Slovak economy, they are still rarely heard of. He stated that the awarded companies are an inspiration for other entrepreneurs and that many companies have appeared in the ranking repeatedly, which he considers to be positive news. tl/df/zel