A 170% INCREASE IN TURNOVER Losses of "Cocor" diminish

"Cocor" Bucureşti (symbol: COCR) posted a loss of 1.75 million lei, in H1 2011, according to the reporting sent to the Bucharest Stock Exchange, after the company reported a loss of 5.9 million lei in H1 2010.

The turnover of the company has increased 170% Y/Y in H1 2011, to 12.01 million lei.

Total revenues, of 16 million lei, increased 132.12% compared to H1 2010.

Total expenses increased 37.9% to 17.8 million lei.

In H1 2011, "Cocor" made an operating profit of 156,064 lei, meaning that the quarterly losses were caused by the financial operations.

Financial revenues, of 4.01 million lei, were insufficient to offset financial expenses, of 5.9 million lei, stemming from interest rates and other financial expenses.

The company has outstanding debts with a maturity of more than 69.52 million lei. As a result of financing the project to modernize the store of Cocor using loans denominated in Euros, the net result has been influenced by the evolution of the exchange rate of the national currency, according to a report sent to the managers of "Cocor" on June 30, 2011.

The average number of employees at the end of the first six months of 2011 was 55, up from 24 at the end of H1 2010.

The line of business of "Cocor" Bucureşti is the letting and subletting of its own or of rented real estate assets. The company has a market capitalization of 51.25 million lei, as its shares were trading yesterday at 169.9% share.

The company has a share capital of 12,067,640 lei, divided into shares with a face value of 40 lei/unit.

The shareholder structure of "Cocor" includes Ursan Liviu with 14.83%, Stoica Daniel with 14.65%, Broadhurst Investments Limited Nicosia with 13.32%, as well as S.I.F. Transilvania Braşov and S.I.F. Muntenia Bucureşti with a stake of 10.24%, and 10.01% respectively.