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Cafca profit up

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Profit for cable manufacturing firm Cafca Limited rose to $754 425 for half-year ended June 2011 despite recording a decline in sales in the mining sector.

During the same period last year the company recorded a $290 211 operating profit.

“Volumes in the first quarter were significantly higher than volumes in the first quarter last year with general optimism in all sectors. We have however seen a downturn in the mining sector in the second quarter and a general tightening of liquidity in all sectors,” the company said in a statement accompanying its financial results.

Profit before tax increased to $997 189 compared to $466 483 same period last year.

Cafca said volumes for the half-year increased by 61 % while turnover rose by 69%.

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