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Business news

23 Aug 2018

Bellegprom companies boost capital investments by 20.8% in H1

Photo from the website of the Bellegprom concern

MINSK, 23 August (BelTA) – Companies affiliated with the Belarusian state light industry concern Bellegprom increased capital investments to Br40.3 million in H1 2018, up by 20.8% compared with the same period last year, BelTA learned from Bellegprom following a session of the board of the concern.

Br34.7 million was spent on purchasing equipment (including Br32.2 million for foreign equipment); Br5 million was allocated for construction and installation works, which accounted for 86.3% and 12.4% respectively of the total investments.

In H1 2018, companies that make part of the concern manufactured Br1 billion worth of products, up by 6.8% over the same period last year. The average profitability of sale within the concern stood at 11.7%.

In January-June the export of goods made up $275.3 million, up by 8.2%; the export to China was estimated at $2.2 million. Export accounted for 53.1% of total output. The concern shipped products to 56 countries worldwide.

In H1 Bellegprom companies manufactured $239.6 million worth of import substitution products, which was 54.7% of the target for 2018.

Amidst a considerable drop in sales through traditional sales channels and tough competition on the part of imported products, companies affiliated with the concern had to develop their own commodity distribution network on the domestic market.

“In order to fulfill the tasks set for the third quarter it is necessary to keep increasing production volume, search for new sales markets, continue financial recovery of companies, help loss-making companies get in the black, reduce the prime cost of products,” the concern added. All top managers of companies affiliated with the concern were recommended to clean up manufacturing premises and adjacent areas.

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