Hungarian dairy company Nestlé Hungaria, a subsidiary of Swiss food giant Nestlé, has posted 2002 turnover of 53.6bn Hungarian forints (US$236.4m), a year-on-year increase of 15.8%.

The company attributed the rise in turnover to a 20% year-on-year increase in exports in 2002.

Nestlé Hungaria expects a greater increase in 2003 turnover, helped by its takeover of Scholler Budatej and Family Frost, subsidiaries of German dairy Scholler.

Nestlé Hungaria acquired the subsidiaries through the takeover of Scholler by parent Nestlé. Since January 2003 Nestlé Hungaria has been operating under the name of Nestlé Scholler Hungaria, reported the Hungarian News Digest.