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Slovenia's Cinkarna Celje H1 net profit rises

Slovenia's Cinkarna Celje H1 net profit rises Author: Cinkarna Celje/Facebook

LJUBLJANA (Slovenia), September 13 (SeeNews) - Slovenian chemicals producer Cinkarna Celje [LJE:CICG] said on Wednesday its net profit rose 212% on the year to 13.97 million euro ($16.7 million) in the first half of 2017. 

Net sales rose 8% to 93.67 million euro and operating costs went up 15% to 15.8 million euro, Cinkarna Celje said in its first-half unaudited financial report filed with the Ljubljana Stock Exchange. 

Cinkarna Celje's sales abroad increased 6% year-on-year to 80.4 million euro in the first half, while revenue generated on the domestic market grew 16% to 13.2 million euro.

Revenues from the sale of titanium dioxide rose to 73.8 million euro from 60.5 million euro and accounted for 79% of total revenue in the first half of 2017.

Cinkarna Celje is one of 15 enterprises slated for privatisation by the Slovenian government in 2013.

The company was established in 1873. Its core business is the production and marketing of titanium dioxide pigment.

($ = 0.834966 euro)

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