Romania's Carbochim Raises 2009 Gross Profit Fcast by 174% to 386,125 Lei (92,000 Euro)

Carbochim's gross profit rose more than four times to 924,000 lei last year.

The company’s shareholders approved a decrease in this year’s total costs target to 22.68 million lei from 23.25 million lei projected earlier, Carbochim said in a statement issued after a shareholders' meeting. Total revenue was slightly cut to 23.07million lei from 23.39 million lei projected earlier.

The company also cut its turnover target to 24.08 million lei from 23 million lei forecast earlier. The investments planned for 2009 were cut in half to 1.3 million lei.

Carbochim’s shares, listed on the Bucharest Stock Exchange, are suspended from trading due to the shareholders’ meeting held earlier on Monday. They last traded 3.7% up at 2.8 lei on December 17 and will resume trading on Tuesday.

(1 euro = 4.2137 Romanian lei)