Centric Holdings SA consolidated turnover grew 19.6 pct to 555.8 million euros in the first half of 2016

Centric Holdings SA said its consolidated turnover grew 19.6 pct to 555.8 million euros in the first half of 2016, from 464.9 million in the same period last year.

Gross profits totaled 4.9 million euros in the January-June period, from 5.3 million last year, a decline of 6.4 pct reflecting a significant decline in gross profit margin to 0.9 pct from 1.1 pct due to higher payout and an increase in the expenses of payout management.

Operating spending fell 0.9 pct reflecting a 22 pct decline in administration spending.

The group recorded a pre-tax loss of 1.2 million euros in the first half, after earning of 563,000 euros in the corresponding period last year, while after tax and minorities results showed a loss of 2.0 million. Own capital fell 5.1 pct to 39.5 million euros with the foreign/own capital rate at 0.18 pct.