Profits up 9 pct at Czech textiles firm Pegas

PRAGUE Thu Aug 28, 2014 2:20am EDT

PRAGUE Aug 28 (Reuters) - Czech synthetic textiles maker Pegas Nonwovens raised its earnings before interest, tax, depreciation and amortisation (EBITDA) by 8.6 percent year-on-year in the second quarter to 9.9 million euros ($13.1 million), the company said on Thursday.

Seven analysts polled by Reuters had expected quarterly EBITDA of 10.6 million euros on average.

Revenue increased by 9.3 percent to 52.6 million euros, below the 55.6 million expected by analysts in the poll.

Net profit grew by 33.3 percent to 5 million euros, beating the average market estimate of 4.1 million euros.

Pegas also confirmed its forecast for annual EBITDA to grow by 12 to 22 percent from 38.6 million euros in 2013.

(1 US dollar = 0.7573 euro) (Reporting by Robert Muller; Editing by Mark Potter)

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