Boromir Prod's Net Profit Halves To RON1.9M In First Quarter

05.17.2011 By Florentina Dragu

Romanian milling and bakery company Boromir Prod Buzau (SPCU.RO) Tuesday said its net profit halved to 1.9 million lei (EUR464,000) in the first quarter, despite a 22% increase in sales to RON34.4 million.

In January-March 2010, the company posted net profit of RON3.9 million and sales of RON28.3 million.

Boromir reported total revenue of RON43.5 million (EUR10.3 million) in the first quarter, while overall costs rose 15% to RON41.4 million (EUR9.8 million).

Buzau-based Boromir Prod has a share capital of RON12.3 million split up into 123.5 million shares with a face value of RON0.1.

The company is part of Boromir group, one of the largest milling and bakery companies in the local market.

The group is controlled by businessman Constantin Boromiz.

Besides Boromir Prod, the group also includes the companies Boromir Ind, Boromir Pan, Moara Cibin (MOIB.RO), Extrasib Sibiu, Comcereal Sibiu, Amylon Sibiu (AMY.RO) and Panmed Medias.

On the Bucharest bourse Monday, Boromir Prod closed flat at RON0.265 a share. (EUR1=RON4.1051)

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