Strong growth of Metalac in first quarter of 2017 – Profit in Russian market jumps 4.8 times
Last year's upward trend continued in the first quarter of the current year, and the main production company, Metalac Posudje, recorded a growth of revenues by 4.9% to RSD 758.3 million. This subsidiary has registered a growth of gross profit by 14.2% to RSD 92.7 million.
Of the remaining production companies, Metalac Inko (sinks) and Metalac Bojler (boilers) recorded growth of 21% and 25% respectively, whereas FAD had worse results than last year (a drop in sales by 5.3%).
The Russian subsidiary, Metrot, registered a jump in revenues by 53.2% to EUR 2.1 million, whereas the gross profit of this main foreign company increased 4.8 times to EUR 403,500 (partial growth of profit is also a result of foreign exchange gains).
The Croatian subsidiary Promo-metal also had positive results in the first quarter, whereas, in 2016, it was the only Metalac subsidiary to operate with losses, Wisebroker reports.
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