EnglishCar parts manufacturer UAMT Oradea posted a net profit of 84,454 RON in the second quarter of 2007, compared with losses of 640,000 RON in the same period last year, according to a report to the Bucharest Stock Exchange. Turnover dropped 21% to 19.37 million RON (6.18 million EUR), from 24.52 million RON in the year-ago quarter.
In the first half of the current year, the company posted a net profit of 167,030 RON, down 2.76 times from 460,343 RON in the same period last year. Turnover amounted to 38.42 million RON (12.26 million EUR), dropping 23.6% from 50.27 million RON in the first half of 2006.
For the current fiscal year, UAMT Oradea expects a net profit of 420,000 RON, up nearly three times from the previous year. Turnover is expected to fall 19.35% to 76.2 million RON.
The company ended 2006 with a net profit of 143,617 RON, down 5.4% from 151,906 RON a year earlier. Turnover amounted to 94.49 million RON last year, recording a 7.3% increase from 88 million RON in 2005.
UAMT has a share capital of 11.29 million RON, divided into 25.08 million shares with a face value of 0.45 RON. The majority shareholder is the employees association with 56.13% in the company. UAMT Oradea is listed on Tier 2 of the Bucharest Stock Exchange as UAM.
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