EnglishCeramic block manufacturer SC Ceramica SA Iasi posted a net profit of 6,435,297 RON in the first half of 2007, double the amount seen in H1/06, when the company reported a net profit of 3,257,529 RON. Turnover amounted to 21,773,025 RON, as compared with 16,042,496 RON in the same period last year. The positive results are mainly due to the start-up of a new production line which cost the company some 25 million RON.
For the current fiscal year, the company expects a net profit of 10 million RON and a turnover of 45 million RON. Investments were initially estimated at 11 million RON but the company will review its investment plan in the next few days.
Ceramica Iasi has called an Extraordinary General Meeting for October 1st to decide on increasing share capital by 48,964,272 RON by issuing 97,928,544 nominal shares with a face value of 0.5 RON and an issuance value of 0.5 RON. Existing shareholders will have preemptive rights to the shares for 30 days after the announcement is published in the Official Gazette. Currently, the company has a share capital of 8,160,712 RON and the majority shareholder is the Dutch holding UGIROFIN BV, with 65.88% in Ceramica.
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