EnglishPipe manufacturer Zimtub Zimnicea (ZIM) posted a net profit of 723,893 RON (230,981 EUR) in the second quarter of 2007, as compared with losses of 65,343 RON in the same period last year, according to a report to the Bucharest Stock Exchange. Turnover amounted to 6.29 million RON (over 2 million EUR) in Q2, recording a 33.74% increase from 4.7 million RON in the corresponding period of 2006.
Zimtub reported a net profit of 82.818 lei (26.425 euro) in the first half of 2007, as compared to losses of over 487,000 RON in H1 2006. Turnover rose by 32% to 11.245 million RON (3.59 million EUR), from 8.5 million RON in the same period last year.
The company estimates a gross profit of 118,000 RON for the current fiscal year, down by 7.12% from 2006. Revenues should total 33.89 million RON, while investments are expected to reach 3.89 million RON.
Zimtub has a share capital of 9.657 million RON, divided into 3.86 million shares with a face value of 2.20 RON. The significant shareholders in the company are Stelian Dragomir (27.04%), SIF Oltenia (26.13%), Ionel Bocioc (12.65%) and Ion Tugulescu (8.76%). Zimtub Zimnicea is listed on Tier 2 of the Bucharest Stock Exchange as ZIM and has a market capitalization of 12.01 million RON (3.69 million EUR).
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