Cement Hranice records 5% sales increase

Czech Republic-based Cement Hranice saw a 4.7 per cent YoY increase in sales to CZK1.78bn (US$71.45m) in 2019.

However, the company’s net profit fell 2.3 per cent YoY to CZK501m. Domestic sales reached CZK1.347bn during the year.

"Sale of cement and other products was 1.5 per cent lower in annual terms mainly due to a drop in supplies to the sister company, ZAPA Beton, in Slovakia," said Roman Michalcik, board member.

The decline in net profit has been attributed to the growing cost of electricity and carbon credits.