BANJA LUKA (Bosnia and Herzegovina), February 28 (SeeNews) - Majority Slovak-owned Bosnian sanitary paper producer SHP Celex on Thursday reported a 33% rise in its 2007 net profit to 1.19 million marka ($919,000/609,000 euro) as revenue grew faster than costs.
Following are details from SHP Celex's 2007 financial report, filed with the Banja Luka Stock exchange, where the company is listed (in Bosnian marka):
| 2007 | 2006 | |
| NET PROFIT | 1,185,640 | 893,199 |
| GROSS PROFIT | 1,185,640 | 893,199 |
| TOTAL REVENUE | 68,684,530 | 61,637,941 |
| TOTAL COSTS | 67,498,890 | 60,744,742 |
The company’s operating assets totalled 59.88 million marka at the end of 2007, down from 62.41 million marka a year earlier.
SHP Celex is based in Banja Luka in the Serb Republic, which together with the Muslim-Croat Federation forms war-divided Bosnia.
Slovakia's SHP Group bought a 65% stake in Celex from the state in an international tender in 2001. It currently controls 79.39% of the company, while the rest is held by the Serb Republic’s state pension and restitution funds and private investment funds, firms and individuals.
Celex produces toilet paper and napkins and exports 80% of its output to Western Europe, Poland, Slovakia, the Czech Republic, Hungary, Romania, Greece, Serbia and Montenegro. Its market share in Bosnia is 23%. The company employs 378.
(1 euro=1.95583 Bosnian marka)
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