Policolor net profits rise 25%

Paints manufacturer Policolor Bucharest logged 401bn ROL (some 9.8 million euro) turnover, up 19% from the 336.4bn ROL made during the same period of 2003. The company’s net profit for the first six months stood at 34.5bn ROL, 25% higher compared with last year. Total revenues stood at 413bn ROL, up 15% after having reached 360bn ROL in 2003. Policolor’s expenses throughout January-June amounted to 369bn ROL. The company sold 381bn ROL in products during the first half of 2004. Its receivables total 204bn ROL and its debts are worth 300bn ROL, most of which (289bn ROL) is set to be paid in a year, according to the its half-year filing with the Stock Exchange. Inventories stood at approximately 200bn ROL compared with 154bn ROL in late 2003. ZF