EnglishHousehold appliances maker "Electroargeş" Curtea de Argeş, announced a profit of 1.88 million lei in the first quarter, after its turnover increased 50.7%, to 27.45 million lei.
The company"s total revenues dropped almost 1%, to 27.46 million lei. On the other hand, total expenses decreased 7.5%, to 25.22 million lei.
"Operating revenues and expenses have increased over 50% YOY, and thanks to an increase in turnover and to tighter cost controls, the operating earnings increased almost 172% over Q1 2009", the quarterly earnings report of the company states.
Operating revenues alone increased 49.7%, to 26.99 million lei, whereas operating expenses increased 43.7%, to 24.73 million lei.
The raise in operating profit, as well as the significant reduction of losses from financial operations resulted in the 378% increase YOY of the company"s net profit, the report says.
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