EnglishBraşov-based IUS SA has reduced its losses over 11 times YOY in Q1 2011. The losses of the maker of hand tools fell from 3.983 million lei to 347,030 lei in the similar period of last year.
Also, the company"s turnover fell during the reviewed period, from 13.437 million lei to 3.585 million lei.
The company"s revenues decreased 68%, from 12.581 million lei to 4.138 million lei, whereas total expenses fell 73%, from 16.556 million lei to 4.485 million lei.
Braşov-based maker of hand tools last year reduced its losses by 21.64%, from 4.845 million lei in 2009, to 3.975 million lei, as the turnover increased 16.54%, from 11.529 million lei to 13.437 million lei. According to a communiqué addressed to the Rasdaq tier of the Bucharest Stock Exchange, the company"s average number of employees fell to 128 last year, down from 179 in 2009. However, the communiqué states that, "after the company resorted to drastically cutting the number of its employees in 2009, in 2010 it started hiring once again". "The company even resorted to personnel leasing in order to cover temporary staffing needs in Q2 and Q3, needs which were no longer applicable in Q4", the quoted document states.
The factory of Braşov is controlled by French group Mob Outillage, which holds 77.91% of the shares.
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