Prodplast hit by petroleum prices

Profits for plastics producer Prodplast Bucharest rose by 20% to 0.59 million euros in the first nine months of the year. The company had expected more than 40% growth in profits in the first six months. The company attributes the increase in profits to the use of raw materials purchased when prices were 30% lower than they are now. The nine-month turnover of 9.63 million euros represents a slight decline on last year. The decline in sales was caused by an increase in expenses that can be seen in the increased prices for certain products made by Prodplast, which the market was unable to absorb, said Ioan Neacsu, the company’s executive manager. ZF