New record for BorsodChem
18 August 1997 00:00 [Source: ICB]
Rising plastics prices helped Hungarian company BorsodChem achieve record second-quarter sales in 1997, while first-half turnover was up 38% to Forint30bn ($149.4m).
Strong PVC production led to a 66% rise in revenue during the first half, with resin exports rising 70% and overall exports up 56.3%.
Despite increased sales, pre-tax profits in the first half increased only 7% to Forint4.4bn as margins were tight.
The rise in PVC sales and prices corresponded with price increases in ethylene. All other sectors showed rises except the company's caustic soda business which was affected by the worldwide price fall which caused sales to drop 16%.
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