Orgachim Posts Jan – Sept Profit At 20.74 Leva per Share

Ruse-based Orgachim () reports profit in the amount of 10.43 mln leva (5.332 mln euros), or 20.74 leva per share for the Jan – Sept 2007 period, versus 3.964 mln leva (2.026 mln euros), or 7.88 leva per share a year ago.

Sales of ready production and materials stands at 95.228 mln leva (48.689 mln euros), 34% up from the respective period last year.

Export accounts for 55% of all sales. The company has arranged for a continues supply of the materials needed for the production of phthalic anhydride, which means production is going at a steady and unstoppable pace.

Sales fall into two categories – sales of ready products and sales of materials for the chemical industry. Materials are mainly sold on the markets of Turkey, Romania, Egypt, the Far East, and Central Europe.

Orgchim is the biggest manufacturer in Bulgaria of paints, lacquers, adhesives, and resins, and the only producer of phthalic anhydride in the country. The company sells 12 brands - Fasagen, Alutin, Balkid, Ruviplast, Vinakol, Hamelkon, Protecta, Mefisto, Leko, Blago, Interin, and Emanel.

Orgachim has a core capital in the amount of 503,000 leva (257,179 euros), and own capital at 25.256 mln leva (12.913 mln euros).

Main shareholder is Whitebeam Holdings Limited (64.21%), which is controlled by the Romanian Policolor.

The stock lost 1.68% today to an average of 801.38 leva, which values the company at 403 mln leva (206.05 mln euros).

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