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Kaolin Has Retained Its Revenue Growth
For the first quarter of year 2008, Kaolin AD earned an operative income to the amount of BGN 22,282 thousand, which equals the volume earned for the same period in year 2007. The main reason to lack a considerable turnover growth is due to the bad meteorological conditions in the month of January, where the output and production were suspended during the first three (3) weeks. The heavy winter conditions we had this year (compared to the exceptionally mild winter of 2007) have also effected our activities; respectively, the incomes earned by our subsidiaries as well, in a similar way.
The financial result of Kaolin AD for the quarter is a profit, the gross amount of which is BGN 1,347 thousand. Apart from the exceptionally bad meteorological conditions during the half of the reporting period under review, the increase in the prices of liquid fuels; respectively, of transport services, as well as the continuing decrease in the exchange rate for the US dollar, also influenced unfavourably the result announced herein.
Notwithstanding the above factors, the Management of the Company hereby reaffirms its expectations for a consolidated growth in the incomes by 20 % at an annual basis compared to the preceding year.
The financial result of Kaolin AD for the quarter is a profit, the gross amount of which is BGN 1,347 thousand. Apart from the exceptionally bad meteorological conditions during the half of the reporting period under review, the increase in the prices of liquid fuels; respectively, of transport services, as well as the continuing decrease in the exchange rate for the US dollar, also influenced unfavourably the result announced herein.
Notwithstanding the above factors, the Management of the Company hereby reaffirms its expectations for a consolidated growth in the incomes by 20 % at an annual basis compared to the preceding year.