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Bosnian cement producer TCK's H1 net profit falls

Bosnian cement producer TCK's H1 net profit falls Author: Elektroprivreda BiH. Licence: All rights reserved.

SARAJEVO (Bosnia and Herzegovina), July 23 (SeeNews) - Bosnian cement factory Tvornica Cementa Kakanj (TCK) [SAJ:TCMKR] said on Tuesday its net profit fell to 5.3 million marka ($3.0 million/2.7 million euro) in the first half of 2019, from 9.1 million marka a year earlier.

The company’s operating revenue decreased 9.7% on the year to 32.2 million marka in January-June, while operating costs edged up 0.8% to 26.8 million marka, TCK said in its 2019 half-year financial report sent to the Sarajevo Stock Exchange.

TCK is majority-owned by Dutch-based CEEM Investment, a unit of Germany's HeidelbergCement Group.

The company is based in Kakanj, in the Federation, one of two autonomous entities that form Bosnia and Herzegovina. The other entity is the Serb Republic.

(1 euro = 1.95583 marka)