April 29 (SeeNews) - Serbian metal parts manufacturer Utva Silosi [BEL:UTSI] said its net profit jumped 236% in 2021 and amounted to 789.3 million dinars ($7.1 million/6.7 million euro).
Utva Silosi's revenues increased by 94% on an annual comparison basis to 9.2 billion dinars, with its operating profit at 908.8 million dinars, up by 238.5% year over year.
Expenses added 85.4% to reach 8.3 billion dinars in 2021.
Basic earnings per share rose by 236.8% from 1,571 dinars in 2020 to 5,292 dinars in 2021.
"Due to the crisis in Ukraine [...] the price of steel is continually increasing," the statement read. As a consequence of price hikes, as well as supply chain disruptions, the company expects lower demand in 2022, the statement added.
(1 euro = 117.669 dinars)