Romnav Brăila doubles its profit on shrinking turnover

Ovidiu VRÂNCEANU (Tradus de Cosmin Ghidoveanu)
Ziarul BURSA #English Section / 5 mai 2010

Romnav Brăila, a company specializing in river freight shipping, has doubled its net profit last year from 2.06 million lei to 4.13 million lei.

However, the company"s revenues dropped 20.4%, from 31.07 million lei to 24.73 million lei, whereas expenses dropped 30.7%, from 28.6 million lei to 19.81 million lei. The company"s turnover also dropped significantly (22.2%), to 23.65 million lei.

The company"s revenues dropped 20.4%, from 31.07 million lei to 24.73 million lei, and expenses dropped 30.7%, from 28.6 million lei to 19.81 million lei.

Romnav is controlled by Gheorghe Antistescu who owns 79.8% of the company. Gheorghe Antistescu is the general manager and chairman of the Board of Directors of the company.

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