Celje, 21 November (STA) - Chemical company Cinkarna Celje saw its net profit increase by 10% to EUR 27.9m in the first nine months compared to the same period last year. Sales were down 6.7% to EUR 134m due to the saturated market of pigment and a general drop in optimism in the economy, the company said on Wednesday.
Sales revenue was 10% lower than planned. Exports in the nine months topped EUR 116.3m, which is 6% less than in the same period last year, Cinkarna Celje said on the web site of the Ljubljana Stock Exchange.
Meanwhile, net profit exceeded plans by 14%. Operating profit at the annual level rose by 6% to EUR 33.48m.
Cinkarna Celje did not have any debts to banks at the end of September, while it had EUR 34.9m in deposits and on accounts, which is 16.4% more than at the end of June.
"Liquidity and solvency of the company have been within the limits of the optimal and planned values," the company said.
The company allocated EUR 19.3m for investment into modernisation, expansion of production, reducing impact on the environment and ensuring operational safety.
The supervisory board got acquainted with the results on Tuesday.