Published: 15 September 2017

Plastics manufacturer, Proplastics's net income for the six months to June grew nearly threefold to $352, 946 from $91,243 reported in the same period last year on increased sales and lower finance costs.

Revenue increased by 7 percent to $6,2 million from $5,8 million in the comparable period last year.

Sales volumes went up by four percent to 2,037 tonnes from 1,967 tonnes reported in the previous period.

Overheads increased by five percent from prior year as the group sort to increase in marketing costs.

Finance costs went down by 77 percent to $6,954 from $28,130 incurred in the same period last year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 71 percent to $903,324 on interest earned from investment securities.

Chief executive Kudakwashe Chigiya said the company wants to improve its export contribution to turnover to 10 percent from the current two percent.
- The Source

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