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Hexagon Composites clocks 22% surge in Q2 sales
Aug '14
Operating income in the second quarter of 2014 ended June 30, 2014 at Norway based Hexagon Composites ASA totalled NOK 394.2 from NOK 322.0 million in the second quarter of 2013, a surge of 22%.

Operating profit before depreciation or EBITDA in the second quarter of 2014 too grew to NOK 80.5 million from 66.9 million in the corresponding quarter of 2013.

In the first six months of 2014, operating profit or EBIT at Hexagon amounted to NOK 62.8 from NOK 52.0 million, while profit before tax for continuing operations reached NOK 56.8 from NOK 50.9 million.

For the first half of 2014, Hexagon reported operating income of NOK 804.7, up 28% from NOK 627.9 million in the first half of 2013.

Operating profit before depreciation or EBITDA touched NOK 165.6 million in the first six months of 2014 from NOK 114.9 million in same half year of 2013.

Operating profit or EBIT in the first half of 2014 grew massively by 51% year-on-year to NOK 130.0 million and profit before tax for continuing operations totalled NOK 114.2 from 85.4 million.

Hexagon said it was able to clock overall strong margins, while Hexagon Ragasco experienced production challenges in June impacting output and profit margins.

It said the ramp-up of Phase I expansion capacity in Hexagon Lincoln is continuing and in the review period, Hexagon Lincoln introduced TITANTM XL, the largest CNG trailer of its kind.

Hexagon paid a dividend of NOK 0.33 per share in May 2014.

Fibre2fashion News Desk - India

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