Kalina posts 1H 2008 Net Income of $13.5 million.

Russian cosmetics producer, Kalina, has posted a 1H 2008 Net Income of $13.59 million under IFRS.

The result was a 2% fall on the same period 2007.  EBITDA was up 13.5% year on year to $31.18 million on sales of $228 million (up 21%).

The Ekaterinburg based company says it’s focusing on higher margin products requiring a significant investment in advertising and product placement in retail outlets, and it added 180 new products to its range in the first half.

Other contributors to the smaller profit include rising administrative costs, and slowing sales growth in 2Q.