EnglishPiatra Neamt-based company Mecanica Ceahlaul expects revenues of 37.6 million RON in 2007. Total revenues expected for the current year amount to 44 million RON, of which total expenses are 39.3 million RON. Consequently, the gross proft will amount to 4.68 million RON.
The budget was approved in the Ordinary General Meeting of shareholders held on January 26th. Shareholders also decided on the necessary short-term credit, which will amount to 11 million RON, and on guarantees for the current year. The investment objectives will be financed through company resources (amortizations, profit reserves, active sales) and will consist of technological equipment necessary for production and environmental investments.
For the first nine months of 2006, the company reported revenues of 23.3 million RON, up 9% from the corresponding period of 2005. The gross profit for the same period reached 4.6 million RON, up 50% compared to 3rd quarter of the previous year.
The company manufactures agriculture and forestry machinery and equipment and has a share capital of 11.1 million RON, divided into shares with a face value of 2.5 RON. The significant shareholders in the company are SIF Moldova (55.18%) and SSIF Broker Cluj Napoca (14.73%). Mecanica Ceahlaul shares are listed on the Bucharest Stock Exchange under the symbol MECF.
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