November 9 (SeeNews) - Romanian steel tubes manufacturer Artrom reported on Friday a net profit of 28.04 million lei ($12.08 million /8.22 million euro) for the first nine months through September, up from 23.9 million lei net profit a year earlier.
Artrom’s turnover rose in the first nine months of 2007 by 46.5% on the year. Revenue rose by 57.5%.
Company officials were not immediately available to comment.
Following are figures from Artrom's income statement sent to the Bucharest Stock Exchange, BVB, where it is listed, after the end of the trading session (in millions of lei):
|
|
9-mo'07 |
9-mo'06 |
| NET PROFIT |
28.04 |
23.97 |
| PRE-TAX PROFIT |
28.04 |
23.97 |
| TURNOVER |
397.21 |
241.73 |
| TOTAL REVENUE |
464.78 |
295.07 |
| TOTAL COSTS |
436.73 |
271.10 |
Company stock closed at 66.9 lei on Friday, up 10.58%.
Germany's Sinara Handel owns 80.56% of Artrom. One of Romania's five regional investment funds, SIF Oltenia, has a 12.19% stake in the company. The balance is held by various minority shareholders.
(1 euro = 3.4118 Romanian lei)