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BUCHAREST (Romania), July 30 (SeeNews) - Romanian building materials manufacturer TeraPlast [BSE:TRP] said that its consolidated net profit rose to 14.7 million lei ($3.5 million/3.1 million euro) in the first half of 2019 from 10.5 million lei in the same period of 2018.
"While during 2018 we focused on consolidating the new businesses, for this year we aim at sustained growth by expanding our regional presence and developing our production facilities through an ambitious investment plan," Ioana Birta, CFO of TeraPlast, said in a statement on Monday.
The company intends to expand its regional presence by developing its distribution network in all countries where it is present, it said.
TeraPlast's consolidated turnover grew by an annual 23% to 416.3 million lei in the January-June period, backed by the group's increased regional presence, the development of the client portfolio as well as the expansion of the distribution network.
TeraPlast booked a 28% rise in its non-consolidated turnover, to 167.7 million lei, supported by its installation business line.
TeraSteel Romania and Serbia - the group's sandwich panels business line, posted revenue of 130.8 million lei in the review period, up 18% year-on-year.
Metallic roof tiles maker Wetterbest booked revenue of 105.2 million lei, representing a 28% annual rise.
The TeraPlast group product portfolio comprises several business lines: installation, PVC joinery profiles, compounds, thermal insulating panels, windows, doors and metallic tiles. The group expanded abroad in 2017, when it opened TeraSteel Serbia.
As at 11:35 CET on Tuesday, TeraPlast shares traded 0.31% lower at 0.317 lei on the Bucharest Stock Exchange.
(1 euro = 4.7307 lei)