EnglishTMK-Resita has decided to use 13.3 million RON from last year"s net profit to coverits accouting losses, while the remaining 704,000 RON will be set aside as reserves, according to a company announcement quoted by NewsIn .
TMK-Resita reported a net profit of 6.75 million RON (2 million EUR) for the first quarter of the current year, recording a 16.3% rise compared with the same period last year. The company"s turnover amounted to 117.67 million RON (35.12 million EUR) in the first three months, increasing by 40% from 83.67 million RON in the year-ago quarter. In the fiscal year 2006, TMK-Resita posted a turnover of 402 million RON and a net profit of 14 million RON.
The company is listed on Tier 1 of Rasdaq as SROY and has a share capital of over 327 million RON (97 million EUR). TMK Resita is controled by Germany"s Sinara Handel, a subsidiary of Russian steel pipe maker TMK.
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