SIJ group's net profit up 17% in first six months
SIJ, a group consisting of a steel and food divisions, posted EUR 13.6m in group net profit in the first half of the year, up 17.2% from the same period last year. Its sales revenue rose by 9% to EUR 557.8m, according to unaudited results released on Friday.
Cetis reports substantial profit surge
Cetis, a printing company specialised in secure documents, posted group net profit of EUR 3.66m in the first half of the year, almost EUR 2m more than in the same period a year ago
Bank bank reports 19% higher H1 profit
Bank Assets Management Company (BAMC), Slovenia's bad bank, generated EUR 20.4m in net profit in the first half of the year, 19% more than in the same period a year ago.
Adria Mobil boosts profit
Adria Mobil, the Slovenian-based caravan maker, reported a group net profit of EUR 27.97m for the first half of the year, up 32% over the same period last year, as net sales revenue rose 9% to EUR 251.4m.
General government surplus at 1.3% of GDP in 2nd quarter
The general government generated a surplus of EUR 151m or 1.3% of GDP in the second quarter, the highest quarterly surplus in 19 years. This is the fifth consecutive quarter with a surplus, the Statistics Office said on Friday. Consolidated general government gross debt decreased to 72.8% of GDP.
European stocks close lower amid political turmoil; Italy's FTSE MIB down over 3%
Stocks closed little changed as investors wrapped up a quarter that featured strong gains. The S&P 500 fell marginally Friday to 2,913.98 while the Nasdaq eked out a small gain to close at 8,046.35. The Dow, meanwhile, climbed 18.38 points to 26,458.31 as Intel and Boeing outperformed. Tesla shares plummeted nearly 14 percent after the Securities and Exchange Commission sued CEO Elon Musk for fraud, marking the company's worst day since 2013. While sources close to the company told CNBC that the firm was also expecting to be sued, Tesla wasn't named as a defendant. Boeing rose more than 1 percent after winning a $9.2 billion Pentagon contract to build the next Air Force training aircraft. Intel shares jumped to close 3.1 percent higher after interim CEO Bob Swan said the company would be able to meet its full-year revenue outlook. European markets were hit hard on Friday, as investors reacted to political turmoil in Europe and overseas. The pan-European STOXX 600 closed 0.74 percent lower, with the majority of the region's sectors slipping into negative territory. Italy's FTSE MIB index tumbled more than 3.7 percent after Rome agreed to set a higher than expected budget deficit target that could put it on a collision course with Brussels. Looking at individual stocks, Saab soared more than 8 percent after news emerged that Boeing had secured a $9.2 billion to build Air Force's next trainer aircraft — and it was partnering with the Swedish manufacturer to do it. Sticking with strong gainers, shares of Dutch semiconductor company ASM International shot up by over 2.6 percent after Bloomberg reported that Chinese firm TCL was mulling a bid for its remaining stake in its listed Asian affiliate.
SORS, NBS: Industrial output in Serbia in 8 months up 2.7% y/y
According to Statistical Office data, in the period January–August industrial production rose by 2.7% y-o-y, driven mainly by manufacturing growth of 2.8%. Industrial production in August was under the temporary impact of major overhauls in the sectors of mining and electricity, gas and steam supply, as well as the impact of low water level. S-a August data show that manufacturing edged up by 0.3%, the greatest positive contributions coming from the production of metal and petroleum products, as well as machinery and equipment.
SROS, NBS: Import in Serbia still grows faster than export
Statistical Office data indicate that commodity exports increased by 8.5% in the period January–August relative to the same period the year before, driven by the 10.8% growth in manufacturing exports. Exports will continue to grow in the coming period as a result of the normalisation of agricultural exports following a good agricultural season. At the same time, commodity imports rose by 13.0%, led primarily by the imports of intermediary and capital goods for the needs of the industry.
Price of electricity in Serbia will not to go up
Serbian Minister of Mining and Energy Aleksandar Antic stated that there would be no increases in the price of electricity in the upcoming period and that the supply of key energy sources in the country was stable, with a stable heating season expected. He also announced that heating plants will start with the tests on October 1 if the weather remains cold. When asked about the price of electricity and the demands of the IMF, he said that Serbia “is backing the price of electricity with the good results of EPS and the fact that it has a good energy mix, with Djerdap 1 and 2 and strong producers using hydro potentials”.