PCLA allocates profits to its investment fund

PCLA allocates profits to its investment fund
Published: 22 August 2005

Shareholders of cement producer Povazska Cementaren, Ladce (PCLA) decided to allocate 89.4 per cent from its last year’s profit into its investment fund. From the total taxed profit that reached SKK177 million last year, this sum represents SKK158.3 million. The company will transfer SKK 17.7 million to its reserve fund and further SKK 1 million to its social fund. The annual general meeting of shareholders was held on June 28. During the whole of last year the company registered sales of its own products and services of SKK1.565 billion. The firm generated an added value of SKK 556.4 million. PCLA plans to earn a pre-tax profit of more than SKK 100 million, this year. Investments are planned to reach SKK 290 million. “The [investments] should be directed into production capacity increase at the main production facilities and into usage possibilities of alternative fuel,” the firm announced.  
 
 Meanwhile, PCLA expects to draw SKK 200 million in loans and the rest of the investment will be covered with the firm’s own funds. The firm has been using alternative fuel in cement production for the past 22 years, including rubber, textiles, paper, or PVC. (EUR 1 = SKK 38 573 on August 19)