Ferro net profit falls to PLN 11 mln in 2017

Sanitary and heating appliances producer Ferro recorded net profit of PLN 11.06 million in 2017. This is almost three times less than in 2016, when Ferro earned PLN 29.09 million, the company reported. Ferro, following the result of the customs and tax control, decided to create a provision, affecting the 2017 financial result for PLN 27.2 million. The revenue from sales in 2017 grew to PLN 364.68 million compared to PLN 332.49 million a year earlier. Company distributed dividend of PLN 25.5 million or PLN 1.2 per share for 2017.