Business News

Intereuropa Posts EUR 3m Net Profit in H1

Koper, 24 August (STA) - The group around logistics company Intereuropa generated EUR 3m in net profit in the first half of 2012 on an operating profit of EUR 9.2m, which is up 63% year-on-year, the company said on Friday.

The increase is attributed most to the increase of sales at the parent company.

However, sales revenues on the group level fell by 12% year-on-year to EUR 96.9m in the first half of 2012, which is in line with the group's plans of streamlining, closure of German and French subsidiaries and scaling back of operations in Ukraine.

The logistics group, which returned to operating profit in 2011 after struggling in the red since 2008, continues its financial restructuring and divestment.

After Intereuropa managed to broker with its creditor banks in February an extension of its debts to the end of September, the company is negotiating a conversion of part of the claims into ownership stock, since the biggest owners had refused the possibility of providing a capital injection.

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