August 17 (SeeNews) - Romanian chemicals producer Chimcomplex Borzesti [BSE:CRC] said on Wednesday its net profit fell by an annual 42% to 165.6 million lei ($34.5 million/33.9 million euro) in the first half of 2022.
The company posted a turnover of 1.22 billion lei in the first six months of the year, up 6.6% year-on-year, it said in a statement filed with the Bucharest Stock Exchange.
Its performance reflected an increase in sales prices for most of the company's finished products as a result of higher manufacturing costs, and a rise in purchase prices for utilities, Chimcomplex added.
Sales on the foreign market, especially within the European Union, accounted for 90.8% of total turnover in the review period.
In July, Chimcomplex inaugurated a special polyols production plant in the central-southern city of Ramnicu Valcea, following an investment of 40 million euro ($40.7 million).
Chimcomplex was founded in 1954 as a state-owned chemicals producer, becoming a joint stock company in 1991. Romanian Commercial Services Group (SCR Group) became the main shareholder of Chimcomplex in 2003.
Chimcomplex started trading on the main market of the Bucharest Stock Exchange in January 2022, having moved from the AeRO segment.
Chimcomplex shares traded down 0.25% at 19.9 lei per share at 1349 CET on Wednesday, on the Bucharest Stock Exchange.
(1 euro = 4.8849 Romanian lei)