The construction company Tehnika achieved a post-tax profit of 13.13 million kuna in the first six months, which is 34 percent less than the net profit in the same period last year, and about 7.5 percent less than the planned net profit, Tehnika announced on the Zagreb Stock Exchange.
According to the interpretation of Tehnika’s Management, the lower half-year profit is a result of reduced company activity, which is also reflected in the level of achieved revenues and expenses compared to the same period last year. Additionally, there has been a significant increase in the inventory of finished products and work in progress. Tehnika’s total revenues in the first half amounted to 529.91 million kuna, which is 15.4 percent lower than in the first half of last year, and, the Management notes, about 18 percent lower than planned. Tehnika’s business revenues of 516.71 million kuna are 13 percent lower than at the same time last year, and since Tehnika generates most of its revenue from domestic sales, domestic revenues have also decreased by approximately the same percentage, 12.8 percent, amounting to 492.59 million kuna in the first six months of this year.
At the same time, total expenses decreased by 14.8 percent to 511.73 million kuna. Total business expenses for the first half are 9 percent lower, amounting to 548.12 million kuna, but significantly, the Management notes, the inventory of finished products and work in progress has increased, with an amount of 41.19 million kuna increased nearly threefold compared to the same period last year. In the structure of business expenses, the most significant are material costs and costs of goods sold (amounting to 451.15 million kuna), where the most significant share is held by the costs of craft services and consumed raw materials and materials.
