English
The Steaua Romana Refinery - Campina (RASDAQ:STRO) reported losses of 406,334 RON for 2008:Q1, compared to a gross profit of 462,939 RON in the corresponding period of 2007, according to a report to the bourse quoted by Rompres. In the first three months of 2008, the refinery processed 52,327 tons of oil, of which 1,495 tons of imported oil, by 7.673 tons less than originally planned. The causes for the setback include an increase in the price of oil and a decrease in demand for oil products during the cold season. Stocks therefore increased by 32% from the beginning of the year, whereas the funds available to the company decreased accordingly. The Q1 net turnover increased by 30.88% to 88.87 million RON from revenues of 102.42 million RON (+22%) and expenses of 102.82 million RON (+23.19%). The refinery is controlled by Omnimpex Chemicals with 82.46%.
Steaua Romana Refinery Reports Q1 Losses
F.A
Ziarul BURSA #English Section / 13 iunie 2008
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