Slovenia's Cinkarna 9-mo net profit up 87 pct on lower costs
05/11/2014 11:35
LJUBLJANA, Nov 5 (Reuters) - Slovenian chemicals processor
Cinkarna Celje CICJ.LJ , one of around a dozen the government
wants to sell, posted an 87 percent rise in nine-month net
profit thanks mainly to the lower cost of raw material, the
company said on Wednesday.
Net profit was 11.7 million euros ($14.6 million) while
sales fell by 4 percent over the same period last year to 128
million euros, Cinkarna said in a statement on Wednesday.
Cinkarna, which produces and markets titanium dioxide
pigment, said its full-year profit would not be much higher than
the nine-month figure because of an expected seasonal fall in
sales in the last quarter of the year.
State investment fund SDH said last month it expected
non-binding bids for 70.8 percent of Cinkarna by Nov. 14.
ID:nL6N0RW0JC
SDH is coordinating the sale of the company, which is one of
15 that were slated for privatisation last year. Three of those
have been sold.
The state and its firms control about 52 percent of
Cinkarna, while the rest is owned by private investors.
(1 US dollar = 0.8006 euro)
(Reporting By Marja Novak; editing by Zoran Radosavljevic and
Susan Thomas)
((Marja.Novak@thomsonreuters.com; +386-8-205-6369; Reuters
Messaging: marja.novak.thomsonreuters.com@reuters.net))
Keywords: CINKARNA CELJE RESULTS/