EnglishOil carrier Conpet Ploiesti (RASDAQ:COTE) reported a 29.32% decrease in the H1 profit to 12.27 million RON (5.27 million USD / 3.9 million EUR), following a decrease in the volume of moved oil and unfavorable exchange rate fluctuations. The company had reported 17.36 million RON in net profit at the end of H1:2006.
H1 revenues decreased by 5.8% to 142.57 million RON (61.33 million USD / 45.49 million EUR) compared to 151.63 million RON in H1:2006. The management pointed out that the RON"s 8.4% appreciation against the USD had played a significant role in the decline.
In H1, Conpet invested 22.29 million RON (7.11 million EUR) in rehabilitation. The company has a share capital of 28.57 million RON divided into 8.66 million shares with a face value of 3.3 RON. AVAS is the leading shareholder with 58.72%, followed by Fondul Proprietatea with 20.06%.
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