Gorenje Reports Increased Revenue Aug 1, 2005

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Slovenia-based home appliance maker Gorenje generated 475 million euros (approx. U.S. $580.1 million) in sales revenues in the first half of 2005, an increase of 15 percent over the same period in 2004. However, the group's net profits were flat compared to last year at 7.51 million euros (approx. $9.2 million).

Although the half-year profit accounted for only 40 percent of this year's planned earnings, the company said it was happy with the results given the operating conditions on its main markets.

According to Gorenje, the group continues to face the same hurdles as last year, including slow economic growth in most of its main markets, low consumer confidence, a weak dollar, and high raw material costs. (Slovenia Business Week)

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