Kaolin's Consolidated Profit Doubles to 18 Mln Leva

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Kaolin's Consolidated Profit Doubles to 18 Mln Leva

The 2007 net profit of the group of Kaolin stands at 18.14 mln leva (9.27 mln euros), compared with 9.18 mln leva. The consolidated result before interest, taxes and amortization reaches 24.8 mln leva (12.68 mln euros), up from 19.9 mln leva a year ago.

The group posts sales revenues in the amount of 117.6 mln leva (60.127 mln euros), which is 30.5% up from 2006, the company said.

Kaolin and all subsidiaries maintain a sustainable growth in sales revenues in all sectors.

The subsidiaries added turnover in the amount of 12.2 mln leva (6.237 mln euros) to the non-consolidated turnover of Kaolin (105.4 mln leva, 5.38 mln euros). The majority of that came from the enterprises abroad, and mainly those in Serbia and Ukraine.

Total costs stood at 104.49 mln leva (53.42 mln euros), versus 80.19 mln leva a year ago. Costs on economic elements stood at 101.22 mln leva (51.75 mln euros), compared with 76.37 mln leva.

At the end of 2007 assets stood at 153.92 mln leva (78.69 mln euros), which is by 52 mln above 2006 figures. The value of current assets is estimated at 51.9 mln leva, against 89.2 mln leva in 2006, and that of fixed assets at 64.72 mln leva, up from 49.99 mln at the end of 2006.

Kaolin's long term liabilities amount to 3.79 mln leva, down from 7.09 mln leva. Current liabilities stand at 32.22 mln leva, versus 56.52 mln leva a year ago.

The company's core capital stands at 25 mln leva (12.78 mln euros), and its own capital reaches 115.23 mln leva (58.161 mln euros).

The stock lost 0.2% today to an average of 14.82 leva at a turnover of 2,189 shares.

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