AS NORMA

INCOME STATEMENT

01.01-30.06.99

 

Consolidated, unaudited

 

                                            H1 1999     H1 1998

 

 Net sales                              260,391,006 257,012,753

 Cost of goods sold                     138,821,704 135,711,581

 Gross profit                           121,569,302 121,301,172

 Marketing expenses                      10,910,209  10,480,657

 Administrative expenses                 37,117,908  46,181,630

 Allowance for doubtful accounts         -3,005,443   2,490,129

 Other revenues                          10,937,929   8,101,322

 Other expenses                           1,823,758   2,721,719

 OPERATING PROFIT                        85,660,799  67,528,359

 

FINANCIAL REVENUES

b) Financial income from affiliated companies 1,976   1,520,866

c) Other long-term investments                    0         510

d) Foreign exchange gain                  7,350,259     183,018

e) Other interest and financial revenues  2,113,910   2,389,186

 Total financial revenues                 9,466,145   4,093,580

 

FINANCIAL EXPENSES

c) Interest expenses                      2,801,627     202,109

d) Foreign exchange loss                  1,717,387     373,925

e) Value adjustments of financial investments     0     950,604

f) Other financial expenses                 303,883   1,946,462

 Total financial expenses                 4,822,897   3,473,100

 

 PROFIT FROM NORMAL OPERATIONS           90,304,047  68,148,839

 

 PROFIT (-LOSS) BEFORE INCOME TAX        90,304,047  68,148,839

 Income tax                              23,235,224  17,936,913

 

NET PROFIT (-LOSS) FOR THE YEAR          67,068,823  50,211,926

 

 

R. Harand

Controller

6 500 482