October 26 (SeeNews) - Romania's sole gas mask producer Romcarbon reported on Friday a nine-month net profit of 3.2 million lei ($1.37 million/0.96 million euro), down 22.9% on the year, despite a twofold rise in turnover to 68.1 million lei.
”We began a new activity - polypropylene processing, which doubled our turnover. Our net profit fell because this year revenue comes only from production, last year we sold properties which contributed to the profit,” Romcarbon’s financial director Florenta Roman told SeeNews.
Following are data from Romcarbon's income statement, filed with the over-the-counter market RASDAQ, where the company is listed (in millions of lei):
|
|
9-mo'07 |
9-mo'06 |
| PRE-TAX PROFIT |
3.7 |
4.8 |
| NET PROFIT |
3.2 |
4.1 |
| TURNOVER |
68.1 |
34.3 |
| TOTAL REVENUE |
72.5 |
37.5 |
| TOTAL COSTS |
68.8 |
32.7 |
The company's shares closed 1.33% lower, at 1.52 lei per share on Friday.
Romcarbon (www.romcarbon.com) was established in 1952 as the Plastic Processing Company Buzau. It changed its name to Romcarbon in 1991.
Romcarbon manufactures car filters, gas masks, polyethylene bags, PVC pipes, polypropylene bags and packaging foil. It is also one of the leading producers of polystyrene food containers, Romania's largest maker of filters and only producer of active charcoal.
Taiwanese company Living Plastic Industry is the largest single shareholder in Romcarbon with a 34.49% stake, RASDAQ data showed
(1 euro = 3.3475 Romanian lei)