Cement Hranice revenues down 15 per cent, Czech Republic
Czech cement producer, Cement Hranice, saw revenues fall YoY to Kc1.48bn (US$60.5m) in 2010, according to the company’s annual report.
The firm’s net profit decreased to Kc453.3m from Kc613.3m in 2009.
"The development of our company is copying the development of the Czech construction sector. The first half of last year brought a marked fall, influenced by long winter and rainy spring. The second half of the year was much more successful as we managed to moderated the loss from the beginning of the year," the company management said in the annual report.
Cement Hranice’s sales were adversely affected by a decrease in state orders for transport infrastructure and the number of new construction projects both in the Czech Republic and abroad as well as by increased competition due to imports.
Published under Cement News
