EnglishPaper and cellulose manufacturer Celhart Donaris Braila cut its losses by 45.6% to 1.32 million RON (423,000 EUR) in the first half of 2007, due to an improvement in the operating result, according to a report to Rasdaq.
Celhart Donaris reduced its raw material expenses to 7.88 million RON (2.5 million EUR), down 31.8% from the first six months of 2006, when the company spent over 11.56 million RON on raw materials.
The company posted a turnover of 9.32 million RON (2.9 million EUR) down by 45% from 16.97 million RON in H1/06. Sales dropped to 9.15 million RON, as compared with 18.7 million RON in the same period last year.
Celhart Donaris has a share capital of 37.3 million RON ann a market capitalisation of 37.3 million RON (11.38 million EUR). The majority shareholder is Ecopack Ghimbav with 84.81% in rthe company, followed by SIF Banat-Crisana with 14.25%. Celhart shares are traded on RASDAQ under the symbol CEDO.
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