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Shareholders in port operator Socep SA Constanta will convene on June 11th to approve an 8,5 million RON increase in share capital, according to a report to the Bucharest Stock Exchange, quoted by NewsIn. The amount represents the company"s profit from the previous years. The company will issue 85.856.436 shares with a face value of 0,10 lei. The share capital will increase from 34,34 million RON to 42,92 million RON.
Socep"s net profit for the first three months of 2007 amounted to 334.561 RON. In the same period last year, the company reported loss of 345.000 RON. Turnover fell 7,2% to 9,09 million RON, compared to the similar period last year, when the company posted 9,8 million RON in turnover.
Last year, turnover amounted to 39,13 million RON, while net profit totaled 1,98 million RON. The company will not pay out dividends from the Y2006 profit. For 2007, Socep expects a 30,4% increase in gross profit, which should amount to 3 million RON. The significant shareholders in the company are Celco SA (10,48%), SIF Oltenia (7,546%), Romanian Reconstruction Limited -Cyprus (5,2%) and Trigon Teise Laine Fund (5,7%).
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