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17:03
MTI COMPANY REDUCES NET PROFIT BY 20.7% IN H1, 2009

Kyiv, July 28 (Interfax-Ukraine) - MTI Ltd. (Kyiv), which owns the Intertop footwear store chain and the Protoria IT electronics store chain, saw UAH 24.422 million in net profit in January to June 2009, which represents a 20.7% decline year-over-year.

A company report at the State Commission for Securities and the Stock Market says that its net income from sales in H1, 2009 shrank by 19.1%, to UAH 843.356 million, while its gross profits grew by 1.6%, to UAH 197.534 million.

Taking into account earlier published data for Q1, 2009, its net profit in Q2, 2009 came to UAH 9.37 million, a 48.5% fall year-over-year.

The company's net income from sales in April to June 2009 stood at UAH 405.617 million, which is 8.8% up year-over-year. Its gross profits in Q1, 2009 fell by 1.3%, to UAH 94.406 million.

In 2008, MTI saw a net loss of UAH 98.613 million, while its net profit was UAH 58.262 million in 2007. Its net sales income in 2008 grew by 9.13%, to UAH 2.429 billion, and its total profit rose by 16.4%, to UAH 469.556 million.

MTI operates four Protoria IT electronics stores and it is intending to open a fifth one in Kyiv in August.

The planned sales of Protoria in 2009 are UAH 120 million.

MTI is an international trade company, created in 1991. It distributes IT products. The Intertop footwear store chain, which was created by the company, has been working in Ukraine since 1993.

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