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KAOLIN AD reports over 17 % incomes growth for the first nine months of 2008
By the end of the first nine months of 2008 Kaolin AD has generated incomes from sales exceeding with over 17 % the incomes generated during the same period of the previous year. The operating incomes for the third quarter of 2008 have increased with 27,5 % compared to the generated incomes during the third quarter of 2007.
The financial result of the company by the end of the third quarter is profit to the amount of BGN 8,42 mln. as only for the third quarter the profit amounts to approximately BGN 3 mln. which is close to the financial result for the third quarter of 2007 ( excluding the effect of the extraordinary by character incomes for the same period of the previous year).
Irrespective of the world financial crisis and the general worsening of the market situation since the beginning of the summer, the company’s management still considers that reaching the projected consolidated growth (20 %) of the incomes for this year is achievable. Negative influence over the expected sales volume may be imposed by the consumption shrinking in the ceramics and construction fields, which already started to be noticed during the past quarter.
With reference to the progress of the crisis, the management of Kaolin AD still during the last quarter structured its investments priorities in the country and abroad, as several potential investments intentions outside the country were frozen. Besides, the main accent until the end of the year shall remain the timely conclusion and put into operation of considerable energy-saving investments, including provision of gas supply for the factories, general introduction of energy management in every field, as well as partial automation of the main production lines.
By the end of the past quarter, the conclusion of the speculative cycle of the petrol price increase was already obvious, which is expected to positively influence the price of the transport services used by the company upon implementing its production. Negative influence will be imposed by the increased natural gas price.
The production range diversification of Kaolin AD makes the company much more stable in the worse economic situation. The preliminary data on the sales development and the financial results of the subsidiaries also show very positive growth during the last quarter. Irrespective of the political and economic crisis in Ukraine, the management of Kaolin Plc does not expect a serious decrease of the active business growth rates in the country.
The consolidated results will be announced after Nov. 15th 2008.
The investors and all stakeholders may receive more information from the Interim Report on the Company’s Activities by 30.09.2008.
The financial result of the company by the end of the third quarter is profit to the amount of BGN 8,42 mln. as only for the third quarter the profit amounts to approximately BGN 3 mln. which is close to the financial result for the third quarter of 2007 ( excluding the effect of the extraordinary by character incomes for the same period of the previous year).
Irrespective of the world financial crisis and the general worsening of the market situation since the beginning of the summer, the company’s management still considers that reaching the projected consolidated growth (20 %) of the incomes for this year is achievable. Negative influence over the expected sales volume may be imposed by the consumption shrinking in the ceramics and construction fields, which already started to be noticed during the past quarter.
With reference to the progress of the crisis, the management of Kaolin AD still during the last quarter structured its investments priorities in the country and abroad, as several potential investments intentions outside the country were frozen. Besides, the main accent until the end of the year shall remain the timely conclusion and put into operation of considerable energy-saving investments, including provision of gas supply for the factories, general introduction of energy management in every field, as well as partial automation of the main production lines.
By the end of the past quarter, the conclusion of the speculative cycle of the petrol price increase was already obvious, which is expected to positively influence the price of the transport services used by the company upon implementing its production. Negative influence will be imposed by the increased natural gas price.
The production range diversification of Kaolin AD makes the company much more stable in the worse economic situation. The preliminary data on the sales development and the financial results of the subsidiaries also show very positive growth during the last quarter. Irrespective of the political and economic crisis in Ukraine, the management of Kaolin Plc does not expect a serious decrease of the active business growth rates in the country.
The consolidated results will be announced after Nov. 15th 2008.
The investors and all stakeholders may receive more information from the Interim Report on the Company’s Activities by 30.09.2008.