Sanex logs significant nine-month profit

Ceramic tile producer Sanex Cluj-Napoca finished the first nine months of this year with net profits of 139.6bn ROL (3.4 million euros). This is higher than the amount for the whole of last year and almost three times higher than the half-year profits. Its 2003 profits reached 110bn ROL (2.9 million euros). The company saw a significant increase in sales in the third quarter of the year. Sanex officials say the company managed to sell one million square metres of tiles in September alone, the equivalent of 5% of annual ceramic tile sales for the entire Romanian market, which is estimated at 20-22 million euros a year. As a result, the company saw third quarter sales match those of the first half of the year. Company turnover rose to 1,018bn ROL (24.8 million euros), while half year sales stood at 539bn ROL (13.1 million euros). The company recently revised its full-year S&R budget upwards, such that it now expects a net income of 223.9bn ROL (5.3 million euros), twice that of 2003. ZF