EnglishSIF Banat Crisana - Arad (BSE:SIF1) posted an H1 net profit of 60.32 million RON, down by 20.6% year-on-year, whereas SIF Moldova - Bacau (BSE:SIF2) announced a 57% surge in the net profit to 46.61 million RON. SIF1 posted overall revenues of 76.66 million RON, down by 20.2% year-on-year.
SIF Banat Crisana posted overall H1 expenses of 12.5 million RON, down by 18.6% as a result of a number of factors, including a decision to reorganize the stock portfolio. Despite the year-on-year decrease, the SIF1 results exceeded projections by 24.7%. On June 30th, SIF Banat Crisana held significant stakes in banks and financial institutions, including the Romanian Commercial Bank (BCR), BRD - Groupe Societe Generale, Banca Transilvania and Bancpost.
SIF Moldova - Bacau posted growing results for H1:2007, as profit exceeded by 6% the projection for the entire year. Investments made by SIF2 in H1 amounted to over 32.64 million RON, equal to some 47% of the annual target. Following strategic share purchase schemes in H1, SIF Moldova will benefit from free shares issued by a number of important companies, including Banca Transilvania, Banca Comerciala Carpatica, Biofarm, Turism Felix, Bermas, Imotrust, Vrancart etc with an approximate market value of 80.77 million RON.
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