EnglishElectrical equipment producer Electrocontact Bucharest posted a net profit of 5,704 RON (1,820 EUR) in the second quarter of 2007, down 77 times as compared with 444,237 RON in the year-ago quarter. Turnover dropped 29.68% to 2.91 million RON (929,676 EUR) in Q2 from 4.14 million RON in the same period last year.
The company reported a net profit of 15,862 RON (5,061EUR) for the first half of 2007, the result being 53 times lower as compared with 841,139 RON in the same period last year. Turnover amounted to 7.109 million RON (2.268 million EUR) in the first six months, down 10.46% from 7.9 million RON in H1 2006.
Electrocontact estimates a gross profit of 1.98 million RON for the current fiscal year, up 2.14 times from 2006. Revenues are expected to increase by 26.3% to 22.28 million RON in 2007, as compared with 17.63 million RON a year earlier. Expenses should amount to 20.3 million RON by year-end.
Electrocontact ended 2006 with a turnover of 15.89 million RON (4.37 million EUR), while net profit amounted to 762,655 RON.
The company is listed on Tier 2 of the Bucharest Stock Exchange. Electrocontact has a share capital of 13.8 million RON and a capitalisation of 18.07 million RON. The majority shareholder is Gabriel Chiriac, with 72.35% in the company.
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