EnglishFaucet manufacturer Mecanica Rotes Targoviste posted a net profit of 4.53 million RON in the first six months of the year, triple the amount seen in H1/06, when the company reported a profit of 1.43 million RON. Turnover amounted to 3.66 million RON, recording a 21.25% increase from 3.02 million RON in the corresponding period of 2006.
Operating income amounted to 47,500 RON, as compared with 325,500 RON in the same period last year, while financial profit stood at 5.33 million RON, up four times from 1.38 million RON in H1/06. At end-June 2007, Mecanica Rotes held stakes worth 18.3 million RON in several companies listed on BVB and Rasdaq.
The company plans to increase its share capital by 102.4 million RON to 127.37 million RON by issuing 102.39 million shares with a face value of 1 RON. The significant shareholders in Mecanica Rotes are Catalin Chelu (16.65%), SIF Oltenia (17.24%) and Amirastar Trading SA (20.48%).
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