Business News

Lektrika Reports Higher Q1 Sales, Profit

Šempeter pri Gorici, 26 May (STA) - Car electronics maker Letrika reported higher group profit and sales for the first quarter of the year as sales revenue rose 4.1% on the same period last year to EUR 62.2m and net profit was up 12.5% to EUR 3.2m.

The Šempeter pri Gorici-based group said the core company saw its net profit surge by 24% year-on-year to EUR 2.5m as sales were up 10% to EUR 50.6m.

The revenue in the first three months represents roughly the quarter of the planned annual figures and most of other goals have been met, according to the company's press release on the Ljubljana Stock Exchange.

Earnings before interest, taxes depreciation and amortisation were up 8% year-on-year to EUR 6.1m.

The group employed 2,490 people at the end of March, 1,966 of which in Slovenia.

Lektrika has reportedly attracted a lot of interest as about 53% in the company is being sold by the state-run insurer Modra zavarovalnica, SOD fund, NLB bank and financial consulting firm CBH.

One of the prospective buyers is the industrial conglomerate Kolektor Group, which already holds 17% in the company.

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