Libet, the manufacturer of paving blocks based in Wroclaw, Poland, generated a net loss of €1.12 million on revenue of €20.5 million in the first half of 2012.
For comparison, net profit in the first six months of 2011 was €870,000 and sales totalled €27.72 million.
The company’s management explains that it had changed its strategy slightly, putting more emphasis on obtaining payment from customers rather than new orders. As a result it has no bad debts and no impairments have been necessary.
Libet aims to maintain its gross sales margin in the second half of 2012. This was as high as 16.6% in the first half.
