Business News

Tool Maker Sees Revenues, Profit Rise

Zreče, 30 October (STA) - Tool maker Unior has reported a 10.5% rise in nine-month revenues, which stood at EUR 118.6m through September, beating plans by 2.3%. The company, which has been slated for sale as part of privatisation of 15 companies planned by the government, has also registered a spike in profit.

While it did not release nine-month profit data, Unior said in Wednesday's statement that half-year net profit amounted to EUR 1.9m, which is seven-fold that from the same period in 2012.

The Zreče-based company, which is currently undergoing financial restructuring, said increased stability in the global automotive market has helped propelled its revenues this year.

The good news for the renowned tool maker comes after it reached a deal in July 2012 with banks to restructure its debt, as part of which it promised to reduce its debt from EUR 142.1m to EUR 70.9m until 2019.

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