Business News

Helios Reports Uptick in Jan-Sep Profit

Domžale, 15 November (STA) - Coatings maker Helios posted a January-September group net profit of EUR 9.65m, up 3% over the year before, despite a 7% decline in sales. Group operating profit was down 2% to EUR 13.5m, the company said Friday.

The figures were buoyed by an increase in sales in September and a reduction of labour costs through attrition, the company said in a press release.

However, the prices of inputs have remained high and raw materials account for 57% of sales, the same as last year.

Helios will conclude the financial year under a new majority owner, as Ring International acquired a 73% stake in mid-October.

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