Friday, August 18, 2017

Promens posts slight sales increase in 2013

Last week, leading Russian container manufacturer Promens released its operational results for 2013, showing a slight decrease in sales over 2012.

Sales in 2013 reached $820.7 million in 2013, compared to $823.4 million in 2012. Analysts from the company, however, said the decrease in sales can be attributed to the increased value of the euro in 2013. Calculated sales during the year increased by one percent over 2012, if currency conversion is not factored.

Meanwhile, the company's debt decreased by $10.9 million in 2013, leaving the company with a 37.5 percent equity ratio at the start of this year.

"Having enjoyed yet another robust year we have every reason to expect stronger earnings moving forward as we pursue our refined corporate and segmental strategies," Promens CEO Jakob Sigurdsson said. "Especially given the improving economic climate in Europe and our entry into new geographical markets and segments."