10 November 2011 09:46 [Source: ICIS news]
SINGAPORE (ICIS)--Austria-based biofuels firm BDI BioEnergy International posted on Thursday a 62.3% year-on-year decline in its third-quarter net profit to €300,000 ($405,405) as a sharp increase in expenses offset improvement in sales.
The company’s orders on hand on 30 September 2011 were at €15.2m, down by 32% year on year, BDI BioEnergy said in a statement.
Its sales for the quarter grew by 11.2% to €10.1m, but its operating profit fell by 34% to €600,000, the company said.
In the first nine months of the year, the company’s net profit was flat at €2.6m, while sales fell 5.3% year on year to €27.5m, it said.
BDI BioEnergy said that sales “were slightly lower than planned because of delays in order intake”.
Its operating profit for January to September 2011, meanwhile, increased by 17.3% to €3.2m, the company said.
($1 = €0.74)
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