Electroaparataj 1Q Net Profit Rises To RON1.6M

05.13.2011 By Andrei Circhelan

Romanian electrical equipment producer Electroaparataj Bucuresti (ELJ.RO) Friday reported a net profit of 1.6 million lei (EUR0.39 million) in the first quarter, compared to RON0.95 million in same period of 2010.

Sales rose 40% on the year, to RON6.6 million in January to March.

Revenue rose 66% to RON10 million, while expenditure increased by 70% to RON8.5 million.

The company is 67.71% owned by investment fund Broadhurst, while Metex Big Galati holds a 10.8% stake.

On the Bucharest bourse Friday, Electroaparataj shares closed flat at RON0.132. (EUR1=RON4.106)