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25.07.2008 - In June, 2008 MONBAT Plc has realized ...

In June, 200 8 MONBAT Plc has realized sales to the amount of BGN 10 398 000 which represents a sales growth of 10.97   % compared to June, 200 7 . The summarized data for the first six months of 200 8 show that the company has realized incomes to the amount of BGN 93 484 000 , which represents a growth of 83.33 %    compared to the same period of 200 7 .

The Management Board has prognosticated only for the second quarter of 2008 sales revenues to the amount of BGN 38 000 000 and for the first six months - sales revenues to the amount of BGN 93   393   000.

The achieved results show 0.1 % over fulfillment of the given sales revenues forecast for the first six months of 2008.

The company’s profit for June, 200 8 is BGN 1 636 000 which represents a profit growth of 16.27 % compared to June , 200 7 . The summarized data for the first six months of 200 8 show that the company has realized profit to the amount of BGN 15 343 000, which represents a profit growth of 124.80 % compared to the same period of 200 7 .

The Management Board has prognosticated only for the second quarter of 2008 profit before taxes to the amount of BGN 4 500 000 and for the first six months of 2008 - profit before taxes to the amount of BGN 14   565   000.

The achieved results show 5.34 % over fulfillment of the profit before taxes forecast for the first six months of 2008.

The Management Board would like to inform the investors for amendments in the put-into-operation terms of the recycling factories, as follows:

1.      The put-into-operation term for the factory in Serbia will be extended with two months – the middle of October, 2008.

2.      The modernization of the recycling factory in Montana will be completed in October, 2008.

3.      The put-into-operation term for the recycling factory in Romania will be extended until January, 2009.

The extension of terms is due to late equipment deliveries and the necessity for final completion of the installation and put-into-operation works. The extension of terms is not related to any lack of permits, prohibitions for continuation of the construction works and/or problems with ecological organizations, local and central authorities in the Republic of Serbia , Republic of Romania and Republic of Bulgaria .

                In spite of the delay in the recycling factories put-into-operation, the management of Monbat Plc considers that the company will be able to implement the undertaken engagements for the year 2008, presented to the investors in “Forecast for Development of the Companies in the Economic Group of Monbat Plc 2008 - 2009”.