Metalac's business revenues up 9.36 percent in H1 2013 - Net profit down 11.65 percent

Metalac, Gornji Milanovac-based manufacturer of dishes and water heaters, has published non-consolidated financial reports for the first six months of this year, which show a sales revenue growth and a drop in business profit and the end result.

The company has reported a mild 9.36 percent growth of total revenue to RSD 382 million from last year's RSD 349.3 million.

Its business profit fell over 10 percent, to RSD 35.1 million, mainly due to an increase in the costs of materials as well as salaries for employees. Metalac's net profit dropped 11.65 percent to RSD 70.5 million.

Metalac shares on the Belgrade Stock Exchange have gained 26.8 percent in value since the beginning of the year. With the latest share price of RSD 2,200, the company's market cap is at RSD 2.24 billion (EUR 19.7 million).