Petrokemija makes first H1 profit since 2011

The Petrokemija Group made HRK 921,000 in profits in the first half of 2016, the first time it earned a profit in the first six months of a year since 2011, when it had posted a loss of HRK 11.6 million, according to a financial report released on Thursday.

The group's revenues totalled HRK 1.06 billion, down 19.1 percent from the first half of 2015, while expenditures totalled HRK 1.059 billion, down 20%.

Earnings before interest, taxes, depreciation, and amortisation amounted to HRK 58.4 million.

Domestic sales accounted for 28.8% of the revenues (HRK 304.5m), down 38.4% from the first six months of 2015, while exports generated 67.7% of the revenues (HRK 715.9m), down 7.9%.

The group manufactured 550,000 tonnes of mineral fertiliser, down 5%. The group has 1,742 employees.

Investments amounted to HRK 74.6 million, HRK 39.1 million more than in the first half of 2015.

(EUR 1 = HRK 7.48)

Last update: Fri, 29/07/2016 - 12:41
Author: 

Related

More from Business

OPEC, non-OPEC countries poised to decide further oil production cut

Representatives from OPEC members and other major oil producers voiced optimism they could strike a price-boosting...

Greek ferry strike ends after eight days

A nationwide strike by Greek ferry workers that led to supply shortages on a several islands ended Saturday after...

Sky accepts 18-billion-pound takeover bid by 21st Century Fox

The board of British broadcaster Sky has accepted a takeover bid worth some 18 billion pounds (22.6 billion dollars...

Pilots resume negotiations with Lufthansa in long-running pay battle

Pilots working for Germany's flagship airline, Lufthansa, have returned to the negotiating table with their...

One third of big Australian companies pay no tax, tax office says

More than a third of the largest companies in Australia paid no tax in the previous financial year, according to...