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Nov 13, 2007 18:11 EEST
November 13 (SeeNews) - Croatian cardboard maker Belisce reported on Tuesday a 133% rise in its nine-month net profit to 27.7 million kuna ($5.5 million/ 3.8 million euro).
Company officials were not immediately available to comment but Zeljko Bunjevac, market analyst with Fima Fas consultancy, told SeeNews that Belisce's profit rose due to the good financial performance of the company in the first half of the year.
Total revenue for the January-September period rose to 973 million kuna from 940 million a year earlier, the company said in a consolidated statement to the Zagreb Stock Exchange where it is one of the 30 constituents of the Crobex blue-chip index. The company’s total costs were 940. 2 million kuna, up from 925.2 million kuna in the first nine months of 2006.
Net profit for the third quarter fell to 4.224 million kuna, from 6.764 million kuna in the same period a year earlier.
Belisce’s shares traded at 850 kuna on Tuesday, down from 852 kuna closing in the previous trading day.
(1 euro = 7.3488 Croatian kuna )
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