Celje, 14 March (STA) - Chemical company Cinkarna Celje reported on Wednesday a EUR 28.8m net profit for 2017, which is almost three times as much as in 2016. Net sales revenue increased by 11% to EUR 188.7m, said Cinkarna Celje, partly state-owned company, which is on the government's privatisation list.
Cinkarna Celje director general Tomaž Benčina highlights in the report the boom in the pigments and titanium oxide industry, which, coupled with pigment supply shortages, has had a very positive effect on sales prices.
Profitability has been further boosted by keeping costs, in particular production costs, under control, Benčina wrote.
The company invested EUR 13.3m into fixed assets in 2017, a 51% increase on 2016 and 8% more than planned.