EnglishMetal structures manufacturer Armax Gaz Medias posted a gross profit of 4.3 million RON (1.39 million EUR) in the first six months of 2007, up nearly 9 times from 490,643 RON in the same period last year, according to a company press release quoted by NewsIn.
The spectacular H1 results are mainly due to the fact that Armax Gaz completed a contract signed two years ago, which accounted for approximately half of the company"s gross profit.
The company posted a turnover of 19.5 million RON (6.2 million EUR) in the first six months, recording a 16.19% increase from 16.86 million RON in the corresponding period of 2006.
Armaz Gaz has a share capital of 8.067 million RON, divided into 80.67 million shares with a face value of 0.10 RON. The significant shareholders in the company are Mircea Vescan (36.19%) and Armean Olimpia Simona (10.12%), according to NewsIn. Armax Gaz is listed on the Bucharest Stock Exchange under the symbol ARAX.
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