EnglishCar parts manufacturer Mefin Sinaia posted a net profit of 291,304 RON (92,949 EUR) in the second quarter of the year, compared with losses of nearly 1 million RON in the same period of 2006, according to a report to the Bucharest Stock Exchange quoted by NewsIn. Turnover amounted to 8.62 million RON (2.75 million EUR) in the second quarter, down 4% from 8.98 million RON in the year-ago quarter.
Mefin Sinaia cut its losses from 2.2 million RON in H1 2006 to 35,743 RON (11,404 EUR) in the first half of 2007. The company posted a turnover of 15.3 million RON (4.8 million EUR), down by 1.92% from 15.6 million RON in the same period last year.
Mefin Sinaia estimates losses of 1.16 million RON for the current fiscal year, down 3.4 times from 2006. Total revenues are expected to reach 32.956 million RON, while expenses should amount to 34.124 million RON. Investments are estimated at 710,000 RON.
The company has a share capital of 13.23 million RON, divided into 5.29 million shares with a face value of 2.50 RON. The majority shareholder is DCI Walbridge Partners - Cyprus, with 79.63% in Mefin Sinaia. The company is listed on Tier 2 of the Bucharest Stock Exchange as MEF and has a capitalisation of 13.44 million RON (4.5 million EUR).
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