Jack's CEO’s view on 2010, expectations & prognosis for 2011
Your general impression of the Russian economy in 2010
The year 2010 can be called a ‘period of recovery’ from the operational and financial meltdowns caused by the global financial crisis, which began to seriously impact on the various sectors of the Russian market in the second half of 2008. But in 2010, companies operating in the Russian economy began to regain their confidence especially after the spring and, despite the negative summer environmental issues, began to grow and reinvest in their respective business activities.
Your assessment of your company's operations in 2010
I would describe our company’s operations in 2010 as very successful. We have fully recovered from the revenue plunge, which at one point reached 43% in mid-2009. Today, not only have our revenues fully recovered, but we have returned to our pre-crisis employee staffing level and are currently operating expanded production hours that exceed those of the pre-crisis period. Also, we have significantly increased our product offerings, which have generally been well received by our customers.
Your key business expectations, as a CEO, in 2011
I expect and hope that the global business community will continue on its current course to a full recovery in 2011. As we all know, Russia’s status as one of the world’s leading resource and commodity suppliers makes its current long-term economic success dependant on the continued recovery and economic success of its client states. These hopefully should continue through 2011.
“I would describe our company’s operations in 2010 as very successful. We have fully recovered from the revenue plunge, which at one point reached 43% in mid-2009.”
I also believe the Russian government will continue its current positive plans to modernize its economy and the overall business climate in the country through ongoing legal reforms, revision of bureaucratic rules and comprehensive diversification of the economy.
Your company's plans for 2011, taking into account your expectations from next year
Jack’s is a small company, but at the same time it is a well-known player in its market niche. Therefore, despite the crisis, and in order to remain competitive, it continued to invest in its ongoing business operations in 2009 and 2010. Our plan for 2011 is to continue to engage in opportunistic growth and expansion activity. We already have concrete plans to launch a new product line in late January 2011. Additionally, we intend to complete a full review and analysis of our 2010 operating results in early next year. Based on this analysis, we will make the necessary adjustments to our existing products and services, and at the same time, formulate our additional growth plans for 2011-13.
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