October 6 (SeeNews) - Romanian plastics manufacturer Prodplast on Tuesday cut to 2.33 million lei ($806,200/546,600 euro) its gross profit target for 2009, down 31% from a forecast issued in April, the company said after a shareholders' meeting.
The company’s shareholders also approved a rise in this year’s total costs to 41.68 million lei from 40.63 million lei projected earlier and affirmed the total revenue projection at 44.01 million lei in 2009, Prodplast said in a statement.
Prodplast shares were last traded on the Bucharest Stock Exchange on September 1, closing up 0.92% at 3.3 lei.
The stock has been suspended from trading since September 2, following a decision of the shareholders to cut the company’s capital by 55% to 17.1 million lei in order to set up a real estate firm.
(1 euro = 4.2627 Romanian lei)