Romcarbon's Net Profit Doubles To RON3.3M In 1Q

05.12.2011 By Florentina Dragu

Romanian plastic profiles producer Romcarbon Buzau (ROCE.RO) Thursday reported net profit of 3.3 million lei (EUR0.8 million) in the first quarter, nearly double on the year.

In January to March 2010, Romcarbon posted net profit of RON1.8 million.

Romcarbon said total revenue rose nearly 5% to RON31.4 million in the first quarter, while overall costs fell slightly to RON27.9 million, from RON28.1 million a year earlier.

The company's turnover stood at RON28 million, up 8% from RON25.9 million in the first quarter of 2010.

Romcarbon has a share capital of RON26.4 million split up in 264 million shares with a face value of RON0.1.

Romcarbon's main shareholders are Living Plastic Industry, with a 32.85% stake, followed by Unitai International Corporation, with a 20.5% stake and investment fund Eastern Eagle Fund, with a 14.2% stake.

On the Bucharest bourse May 9, Romcarbon closed down 3.3% at RON0.2127 a share. (EUR1=RON4.0997)

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