EnglishOrsova Shipyard posted a net profit of 2.79 million RON in the first half of 2007, recording a 22.46% increase from 2.28 million RON in the same period last year, according to a company press release quoted by NewsIn. Turnover advanced by 22% to 41.36 million RON (13.2 million EUR), as compared with 33.92 million RON in the corresponding period of 2006.
In the second quarter, the company doubled its net profit from 929,000 RON in Q1 2007 to 1.86 million RON. However, the net profit dropped 35.3% as compared with 2.87 million RON in the same period last year. Turnover amounted to 26.1 million RON (8.33 million EUR) in the second quarter, recording a 14.4% increase from 22.81 million RON in the year-ago quarter.
The company estimates total revenues of 94.15 million RON for the current fiscal year, while expenses are expected to reach 85.65 million RON. Gross profit should amount to 8.5 million RON and net profit is estimated at 7.14 million RON. Investments are expected to reach 8.4 million RON.
The company has a share capital of 21.64 million RON and a market capitalisation of 173.15 million RON (54.28 million EUR). The majority shareholder is SIF Transilvania with 49.99% in the company, followed by SIF Oltenia with 12.13%. Orsova Shipyard is listed on Tier 2 of the Bucharest Stock Exchange as SNO.
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