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Graboplast operating profits double in H1

Synthetic flooring company Graboplast Zrt had operating profit of Ft 1 billion in the first half of 2006, double the amount in the same period a year earlier, spokeswoman Ágnes Mónus said on Tuesday.

She attributed the big increase to improved market conditions. First-half revenue increased 21% year-on-year to Ft 9.7 billion, with sales of Graboplast's special-purpose flooring increasing one-third, Mónus added.
Because of Graboplast's big stock of orders, the company is operating its three production facilities around the clock.
Graboplast has made a number of cost-cutting measures, including restructuring the company and setting up a separate marketing and sales division, Mónus said.


Graboplast expects to close 2006 with revenue of Ft 21 billion and operating profits of Ft 1.5 billion-Ft 2 billion. Mónus said Graboplast, which relies on exports for 92% of its revenue, can operate competitively as long as the forint/euro cross rate remains between 265 and 275.