July 26 (SeeNews) - Croatian plastic products manufacturer AD Plastik [ZSE:ADPL-R-A] said on Wednesday its consolidated net profit increased 38% on the year to 38.9 million kuna ($6.1 million/5.2 million euro) in the first six months of 2017.
The company's net profit was boosted by a reduction in interest on loans and a drop in credit indebtedness, AD Plastik said in a Zagreb bourse filing.
Consolidated operating revenue rose 3.7% on the year to 531.3 million kuna in the six months through June, while EBITDA reached 85.4 million kuna, up 13.8%.
Revenues on the markets of EU and Serbia dropped by 0.8% to 391 million kuna due to a significant strengthening of the kuna against the euro.
On the Russian market, AD Plastik achieved an18.8% increase in operating revenue, as car sales rose 6% on the year.
AD Plastik manufactures plastic products mainly for the automotive industry. It runs plants in Solin in Croatia, in Mladenovac in Serbia, in Novo Mesto in Slovenia, and in Russia's Kaluga and Samara.
(1 euro=7.41282 kuna)