Unirea Shopping Center 2010 Net Profit Halves To RON5.9M

04.18.2011 By Florentina Dragu

Romania’s Unirea Shopping Center (SCDM.RO) Monday said its net profit more than halved to 5.9 million lei (EUR1=RON4.0869) in 2010, from RON12 million a year earlier.

Romania's Unirea Shopping Center (SCDM.RO) Monday said its net profit more than halved to 5.9 million lei (EUR1=RON4.0869) in 2010, from RON12 million a year earlier.

Unirea Shopping Center, manager of two shopping centers in capital city Bucharest and central city of Brasov, said total revenue fell 1.4% on the year to RON99.7 million in 2011.

The company's expenditure rose 6% to RON91.5 million.

Overall turnover stood at RON86.4 million, down 12% from RON97.8 million in 2010.

Unirea Shopping Center is majority owned by Dan and Carmen Adamescu, through Nova Trade company, with a 74.16% stake, followed by regional investment fund SIF Muntenia (SIF4.RO), with a 10% stake, while other investors own together 15.8% of the shares.

On Rasdaq market in Bucharest April 13, Unirea Shopping Center closed down 0.61% at RON81 a share.