Kremikovtzi profits in 2004

Kremikovtzi profits in 2004

Major Bulgarian steelmaker Kremikovtzi increased its net profits 379'000 levs ($252'500) to 119.8 million levs ($80 million) in 2004. Net sales of the company increased 44% year on year to 1.05 billion levs ($700 million). With the increase in profits, the company's debts fell from 600.5 million levs ($400'000) at 2003 year-end to 550.5 million levs ($367'000) at 2004 year-end. The company also announced that the recently acquired Serbian plant Lemind produced its first batch of pre-painted coils.