September 25 (SeeNews) - Romanian investment fund SIF Oltenia [BSE:SIF5] said on Friday that its net profit plummeted 76.4% on the year to 28.8 million lei ($6.8 million/5.9 million euro) in the first half of 2020.
Dividend income fell to 30.7 million lei in the first half of the year, compared to 122 million lei in the like period of 2019, SIF Oltenia said in its first half financial statement filed with the Bucharest Stock Exchange.
Basic result per share dropped to 0.0477 lei per share in the first six months of 2020, compared to 0.2076 lei a year earlier due to the coronavirus crisis, the investment fund said.
As of end-June 2020, SIF Oltenia held a portfolio of participations in companies and investment funds at a market value of 1.596 billion lei, down 20% compared to end-June 2019.
The companies in SIF Oltenia's portfolio at the end of June 2020 were lenders Banca Transilvania and BRD Groupe Societe Generale, oil and gas group OMV Petrom, natural gas producer Romgaz, gas trasmission company Transgaz, drug manufacturer Antibiotice, investment fund SIF Banat Crisana, power grid operator Transelectrica, tourism operator Turism Felix and state-owned import and export bank Eximbank.
Even though the COVID 19 pandemic has had an impact on most economic activities, SIF Oltenia estimates that the risk related to the economic environment to which it is exposed is moderate, it said.
SIF Oltenia's shares traded flat at 1.95 lei on the Bucharest Stock Exchange as at 1441 CET on Friday.
(1 euro=4.8750 lei)