EnglishDairy producer Albalact Alba Iulia posted a net profit of 6.85 million RON (2.18 million EUR) in the first half of 2007, up 11 times from 603,000 RON in the same period last year, according to a company press release.
The company reported a turnover of 74.82 million RON (23.9 million EUR) recording a 76.7% rise from 42.33 million RON in the corresponding period of 2006. Operating revenues amounted to 81.83 million RON in the first six months, of which sold output accounts for 73.8 million RON. Operating expenses totalled 72.97 million RON. In the second quarter of the year, Albalact posted a net profit of 1.83 million RON and a turnover of 36.4 million RON.
Shareholders in Albalact Alba Iulia will convene on August 22th to discuss a share capital increase by 47.47 million RON to 66.9 million RON. The company will issue 474.69 million shares with a face value of 0.10 RON, equal to the subscription price.
In June this year, Albalact doubled its share capital from 9.44 million RON to 19.43 million RON. The significant shareholders in Albalact are Ciurtin Petru (36.21%), Ciurtin Petru Raul (16.03%), RC 2 Limited - Cyprus (13.37%) and Julius Baer International Equity Fund (less than 5%). The comnpany is listed on Rasdaq as ALBZ and has a market capitalisation of 532.48 million RON (163.46 million EUR).
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