Heidelberg Cement's Bosnian Unit H1 Net Profit Rises 88% Y/Y - Table

No company officials were available for comment on Tuesday. TCK said earlier its 2007 net profit soared 118% to 35.48 million marka due to increased sales and higher cement price.

Following are details from TCK’s half-year financial statement, posted on the company’s website (www.heidelbergcement.ba) (in millions of Bosnian marka):

TCK’s assets totalled 232.6 million marka at the end of June, up from 188.0 million marka a year before.

The factory sold 387,000 tonnes of cement in the first six months of 2008 and hopes to sell at least 707,000 tonnes for the whole year, roughly the same quantity as in 2007, Bosnian daily Dnevni Avaz reported on Tuesday quoting TCK’s director Branimir Muidza.

Muidza said Heidelberg Cement has invested some 100 million marka in its Bosnian factory since it bought it in 2000, primarily in facility upgrades and environment protection.

Tvornica Cementa Kakanj is based in the central town of Kakanj, some 50 kilometres northwest of the capital Sarajevo.

The company stock last traded on the Sarajevo Stock Exchange (SASE) on September 19 at an average price of 51.00 marka, down 14.84% from the previous trading on June 5.

(1 euro = 1.95583 Bosnian marka)