Monaco: a new record year for the SBM, but?
The SBM (Société des Bains de Mer), the largest private employer in Monaco, has shown good figures during the general assembly in the end of last week. But, as for all the tourism actors of the Riviera, those record results do not reflect the current situation and the great overturn which has happened after the tragic attacks in America. Figures for 2000-2001, the fourth positive year after the crisis in the 90's, risks not to be found in the following year. Over the twelve months, the turnover has increased from 2.014 to 2.140 billion francs and profits from 157 to 194 million francs. Such figures are all the better as year 1999-2000 has already been a record year. Gambles, as hostelry, have contributed to this increase. Takings have increased from 1.338 to 1.376 billion francs for gambles and from 652 to 721 million francs for hostelry.