Czech Synthesia posts 9 mos Koruna165m profit but Q3 loss

10 November 2000 14:38  [Source: ICIS news]

PRAGUE (CNI)--Czech chemical company Synthesia, which is part of the AliaChem group, reported on Friday operating profits of Koruna165.5m for the first nine months of the year compared with a Koruna114.3m ($2.8m/Euro3.3m) loss last time.

However, the company suffered a Q3 loss which brought nine months operating profits below the Koruna167m recorded for the first half of the year. Synthesia said sales are traditionally weak in the third quarter, especially July and August. Actual Q3 figures were not provided.

Nine months sales increased 21% to Koruna3.9bn, driven by a strong performance from dyestuffs and coloured pigments and inorganic chemicals, as well as the successful introduction of the fertiliser Synferta N22.

Synthesia - which also produces organic chemicals, plastics and explosives - did not announce pre-tax profits for the period.

Ales Mokren, Synthesia's assistant general manager, said nearly Koruna2.54bn worth of goods was exported during the nine months period - a slight increase on last year. The company’s main export market is Germany, followed by France, Great Britain, Italy, Poland and the US.

He added that the company has been hit hard by the unfavourable exchange rate. "This has deprived us of several dozen million of koruna against our projection."

By: Katka Krosnar
+44 20 8652 3214

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