Business News

Helios Profit Soars 71%

Domzale, 31 August (STA) - Helios, the paints and varnishes maker, has seen profits surge 71% to EUR 5.3m in the first half of 2010, the group said in statement on Tuesday.

Sales of the Domzale-based group were up 13% compared to the first half of 2009, at EUR 149.5m.

The group said it had seen a recovery on several markets, although some have not rebounded yet following the recession.

While sales on Eastern European markets are up, the domestic market and those of the former Yugoslavia are still in a slump.

Moreover, the half-year sales accounted for only half of the anticipated revenues at Helios for the whole of this year.

The management board led by chairman Uros Slavinec voiced satisfaction with Helios's half-year earnings in today's statement.

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