November 11 (SeeNews) - Majority state-owned Romanian company Oil Terminal expects its gross profit to rise by 18.6% to 1.72 million lei ($602,000/400,000 euro) this year, despite lower revenue projected, the company said on Wednesday.
Oil Terminal expects its revenue to fall to 114.46 million lei this year from 136.98 million in 2008, the company said in a statement filed with the Bucharest Stock Exchange, where its shares are listed. Further details were not immediately available.
The company reported a first-half net profit of 437,000 lei, down 67% on the year.
Oil Terminal stock traded 3.61% higher at 0.258 lei per share by 1018 GMT on Wednesday.
Following are figures from the company's income statement filed with the BVB (in millions of lei):
|
|
2009 - projections |
2008 |
| GROSS PROFIT |
1.72 |
1.45 |
| TOTAL REVENUE |
114.46 |
136.98 |
| TOTAL COSTS |
112.74 |
135.52 |
Oil Terminal (www.oil-terminal.com), based in the Black Sea port city of Constanta, in southeastern Romania, deals in the storage, conditioning and shipping of crude oil, fuel oil and other liquid fuels. It employs 1,250.
(1 euro = 4.2971 Romanian lei)