Celhart Donaris: $17m turnover

Braila-based cellulose and paper producer Celhart Donaris posted H1 turnover worth 573.2 billion ROL (17.3 million dollars), up 26% as compared to the year-ago period. The company’s revenues totalled 613.5 billion ROL ($18.6m), up 26% since H1 2002, according to the company’s half-year report. In the first half of 2002, Celhart Donaris had reported turnover standing at 455 billion ROL and revenues totalling 485.2 billion ROL. However, taking into account the 14-15% inflation rate, the company’s revenues posted an 11-12% increase in nominal terms. Despite higher sales, net profit actually dropped to four billion ROL in the first six months of the year, as compared to 4.5 billion ROL between January-June 2002, though gross profit did increase in nominal terms. Operating results reached 10.5 billion ROL, more than twice the value registered in the year-ago period. Yet, profitability was hit by significantly bigger financial losses, which almost tripled this year. ZF