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S&B Minerals record lower profits in Q1 2014 on higher costs

By Antonio Torrisi
Published: Thursday, 15 May 2014

Lower year-on-year profits in the first three months of this year reflect a moderate increase in sales of industrial minerals for foundry and specialty industries and lower demand from the construction and horticulture. The company will have to reduce debts in order to offset the negative impact of currency exchange on its profits.

Greek industrial minerals producer, S&B Industrial Minerals, has recorded lower profits in Q1 2014, despite a slight increase in sales year-on-year (y-o-y).

Net profit amounted to about €4.1m ($5.6m*), down 26% compared with the same period in 2013, as net debt increased from €228.8m to €241.3m y-o-y, due to...

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