Source: eKapija | Wednesday, 17.05.2017.| 11:34
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Strong growth of Metalac in first quarter of 2017 – Profit in Russian market jumps 4.8 times

(Photo: Ivana Vuksa)
The Gornji Milanovac-based holding Metalac has published the report for the first quarter of 2017, as well as the results of operations of its subsidiaries in this period.

Last year's upward trend continued in the first quarter of the current year, and the main production company, Metalac Posudje, recorded a growth of revenues by 4.9% to RSD 758.3 million. This subsidiary has registered a growth of gross profit by 14.2% to RSD 92.7 million.

Of the remaining production companies, Metalac Inko (sinks) and Metalac Bojler (boilers) recorded growth of 21% and 25% respectively, whereas FAD had worse results than last year (a drop in sales by 5.3%).

The Russian subsidiary, Metrot, registered a jump in revenues by 53.2% to EUR 2.1 million, whereas the gross profit of this main foreign company increased 4.8 times to EUR 403,500 (partial growth of profit is also a result of foreign exchange gains).

The Croatian subsidiary Promo-metal also had positive results in the first quarter, whereas, in 2016, it was the only Metalac subsidiary to operate with losses, Wisebroker reports.
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