Creaton reports sharp improvement in first half profit

Creaton reports sharp improvement in first half profit
Published: 02 September 2004

The leading German clay tile producer Creaton increased its trading profit for the first six months of the year from EUR1.5m to EUR4.0m on a broadly static turnover of EUR57.5m. Exports rose by some five per cent to EUR13.9m, with sales in Hungary, where Creaton is currently building a plain roof tile plant, being particularly strong.  While the German market shows no signs of revival, the reduction in the cost base on the back of recent investment and a continuing shift in the product mix towards the large format ‘Magnum’ tile, which carries higher margins, are the main reasons behind the marked improvement in profitability.