Matador sales, earnings up in 1st half

Bratislava, Slovak Republic -- Slovak tyre and rubber products

maker Matador A.S. reported double-digit sales and earnings growth in

the first half, in part because the firm´s machinery business and

Russian joint venture both were in the black.

Matador´s pre-tax profits grew 26 percent

to $18.7 million, while sales increased 14 percent to $276.7 million;

sales include a 50-percent share of the company´s Matador Omskshina

venture in Russia.

Matador said it achieved improvements

despite "major adverse impacts" from the increases of oil prices. The

firm said it managed to adjust by finding alternative raw materials;

through product innovation; by adjusting its pricing policy and cost

reduction programs; and by benefiting from its diversification between

rubber and machinery production.

Matador derives 80 percent of sales from its rubber industry activities and 20 percent from automotive parts.

The firm produced nearly 4.6 million tyres at its plants in Slovakia, Russia and Ethiopia.