Kaolin's Revenue Up by More than 30% in H1

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Kaolin's Revenue Up by More than 30% in H1

The non-consolidated revenues of Kaolin AD for the first half year of 2010 have increased by 31% where compared to the same period of the previous year, reaching BGN 60 million.

At the same time, the financial result has increased from BGN 3.7 million for the first half year in 2009 to BGN 4.5 million for the current period, constituting a growth of more The Company has reported a sales growth in all main sectors, with the exception of construction where the principal market in Bulgaria has continued to shrink.

The sales effected within the ceramic industry have marked a serious growth on all major markets, the leading ones being Turkey, the Middle East and Northern Africa.

The sales realised in the glass sector have shown weaker recovery where compared to ceramics, mostly due to the slower recovery in the production of bottles. A serious increase has also been reported in the sales revenues of products within such sectors as paper, rubber sections, plastics, etc.

The export share is continuously growing. The sales geography is being developed by new markets in Asia and Africa, such as India, Pakistan, Vietnam, Kenya, South Africa, etc.

The Company succeeds in maintaining the control over its main expenditures, where these for materials, salaries, etc. have increased by approximately 15% when compared to the same period of the preceding year. A serious growth of approximately 50% is only reported in the expenses on hired services, which is mainly due to the increase in the transportation costs resulting from the growth in the prices of liquid fuels. The sale prices of liquid fuels in Bulgaria have reached the highest levels from the period prior to the beginning of the financial crisis (the first half year of 2008).

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