Metalac Serbia: operating income increased 14%, profit fell 24.4%

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Manufacturer vessels and boilers Metalac , which consists of 10 production and 4 trading company , announced consolidated results for the first half of the 2013th year.

Operating income amounted to 2.91 billion , which is nearly 14 percent higher than the same comparable period a year earlier. However , operating profit had a negative trend and declined by 24.4 percent to 297 million and the cause of the fall were increased costs of salaries , materials and other expenses.

The final net result is a level of 263 million dinars, which is marginally lower than last year, when the aforementioned ratio was  at the level of 335 million. In positions ” long-term liabilities and provisions ” are registered strong increase ( 135 percent), and now amount to 1.8 billion , while the amount of short-term liabilities decreased by one-third to 1.17 billion.

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Shares of the Issuer since the beginning of the year increased by 27 percent and the price of 2,200 dinars market capitalization is 2.24 billion dinars ( 20 million euros).

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