Profit of Cominco Bucharest drops by half

Ovidiu VRÂNCEANU ( Translated by Cosmin Ghidoveanu)
Ziarul BURSA #English Section / 2 septembrie 2010

Turnover of Bucharest-based construction company Cominco, specializing in construction, dropped 9.6% YOY in the first semester, from 43.3 million lei in H1 2009 to 39.1 million le. The company"s net profit more than half in the same period, from 70,343 lei to 31,428 lei, as the company"s revenues dropped 8.9%, from 50.2 million lei to 45.7 million lei, and expenses followed suit, dropping from 50 million lei to 45.5 million lei.

The largest shareholders of the company are Cătălin-Traian Gemănar - 25.27%, Sorin Apostol (general manager of brokerage firm KBC Securities), who holds 19.6%, and Florin Rusu - 12.62%.

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