Metalac profit in first four months of 2017 higher by 40% – Russian market stimulates growth of production

The results of the Gornji Milanovac-based company Metalac in the first four months of 2017 were better by 11% compared to the last year's, and the factories producing water heaters, sinks and cookware are the greatest contributors, Politika writes.

The amount of profit has surprised even the biggest optimists, as the result from the corresponding period of 2016 was exceeded by 40%.

– The Russian market has awoken this spring. The solid contracts we've signed oblige us to increase our production capacities in the second half of the year. The situation in Ukraine is quite the opposite, as the market is very sensitive, and their currency, hryvnia, very volatile. If it fell, everything we did would make us incur losses – says Petrasin Jakovljevic, general manager of the company.

In the west, Metalac cooperates will with French commercial chains Carrefour, Intermarche and Auchan. It is also increasingly more present in the American market, where a company as big as Coca-Cola has chosen it as its partner, Politika writes, as reported by Wisebroker.

Metalac a.d. Gornji Milanovac

Petrasin Jakovljevic

Metalac profit

Metalac revenues

Carrefour

Intermarche

Auchan

Coca Cola