Heidelberg’s Bosnian unit 2007 net profit rises 118%

Heidelberg’s Bosnian unit 2007 net profit rises 118%
Published: 21 February 2008

Tvornica Cementa Kakanj (TCK), a Bosnian cement factory owned by Germany’s Heidelberg Cement, said on Wednesday its 2007 net profit rose 118% to 35.48 million marka ($26.6m) on the back of increased sales last year.  
 
“As a result of the increased … demand for cement on the Bosnian market, the volume of sales rose by 71,000t, or 11.2%, which led to a 40% rise in sales revenue and 118% rise in net profit,” TCK said in its annual financial report filed to the Sarajevo Stock Exchange (SASE).  
 
Another factor for the plant’s increased sales was the 21% rise in the average price of cement last year, it said.