Czech AliaChem sees Koruna214m profit for '99

09 August 1999 10:28  [Source: ICIS news]

PRAGUE (CNI)--Czech chemical concern AliaChem forecast on Friday that its net profits this year will reach Koruna214m ($6.2m/Euro5.8m), rising to Koruna800m by 2002.

AliaChem also predicted that its turnover this year would reach Koruna13.3bn, increasing to Koruna15.3bn by 2002.

The strong growth forecasts were given at the same time as AliaChem reported first half pre-tax profits of Koruna263m from sales revenues of Koruna4.76bn. Operating profits for the January to June period were Koruna152m. First half net profits were not immediately available.

Just over 81% of its budgeted annual turnover was generated during the first half, said AliaChem. July turnover totalled Koruna410m.

AliaChem, which was established in its current form on 1 January this year, comprises the chemical divisions Synthesia Pardubice, Moravske Chemicke Zavody Ostrava, Fatra Napajedla, Technoplast Chropyne and FSG Zlin. The best performer in the first half was Moravske Chemicke Zavody, while Synthesia Pardubice showed the largest sales shortfall.

Chemapol, which was declared bankrupt in January, is AliaChem's principal shareholder with a 47% stake.

By: Mark Andress
+44 208 652 3214

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