Bambi reports revenue drop and profit growth in H1 2012

Bambi-Banat's operations stagnated, but its efficiency improved in the period January-June 2012, the data from a semiannual financial report published on the Belgrade Stock Exchange show.

Bambi's consolidated business revenue dropped insignificantly to RSD 3.5 billion, thus making the Belgrade-based Stark the largest domestic confectioner again after few years. What contributed the most to this stagnation of operations is the domestic market in which Bambi's sales fell from 2.84 billion to 2.67 billion dinars in the first half of this year, whereas the sales in foreign markets grew over 15 percent in the same period, to 0.7 billion dinars.

In spite of revenue stagnation, Bambi's consolidated business profit went up 23.8 percent, to RSD 614.6 million, while the net profit grew from last year's 330 million to 376.8 million dinars.

When it comes to the company's debt, it remained on a relatively similar level at the end of June. Long-term liabilities increased 35.5 percent, to RSD 769.1 million, while short-term liabilities remained unchanged - RSD 2.5 billion.