69% higher profits for Prodplast

Plastics producer Prodplast Bucharest concluded the first half of the year with 69% growth with regard to net profits in nominal terms in comparison to the same time last year. It has thus maintained the growth rate of the first quarter. Prodplast’s net profit for the first half totalled 18.5bn ROL. Its turnover rose 10% to 254bn ROL (6.2 million euros). The profit growth was largely due to the increase in the profit margin against the turnover, a proportion which nearly doubled to 7.3% in the six months ending June 30, 2004. A threefold reduction in amortisation expenses also helped achieve these results. Actual production only rose 2% compared with the corresponding period of last year. ZF