Dor Chemicals (TASE: DORC ) today reported an upswing in the second quarter, bypassing guidance it released less than a month ago.

The polypropylene sheeting maker said it netted NIS 26.2 million, compared with earning NIS 0.2 million in the parallel quarter of last year.

For the first half Dor, which is controlled by the Dankner family, said it netted NIS 75.2 million, beating its guidance by NIS 5 million. In the same six months of last year it netted NIS 0.6 million.

The difference is that in the interim, Dor bought the Italian company Moplefan. The acquisition, in the fourth quarter of 2001, lifted the whole enterprise up to the big leagues.

The acquisition pushed up sales 400% to NIS 282 million, from NIS 56 million in the parallel quarter.

For the first half Dor presented sales of NIS 500 million, 335% more than in the parallel half of 2001. Moplefan's contribution was substantial sales of NIS 394 million (€84 million) for the first half, or 79% of Dor's total sales in that time.

Moplefan's earnings for the half-year were NIS 24.2 million (€5.1 million).

On the other hand, sales of Dor's chemicals operations eroded 23% for the half year to NIS 55.3 million, from NIS 71.5 million.

Dor's gross profit for the half-year was NIS 155 million, comprising 31% of its sales. In the parallel period its gross profit was 21% of sales.

The company's operating profit was NIS 87.5 million for the first half, rising from 5% in the parallel half to 18%.

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