November 16 (SeeNews) - Romanian concrete products manufacturer Prebet [BSE:PREB] said that its net profit decreased by an annual 52.7% to 1.6 million lei ($340,280/326,317 euro) in the first nine months of 2022.
The drop was caused mainly by the doubling of electricity and gas costs used in the production activity and by the increase in prices of raw materials and services, Prebet said in a report filed with the Bucharest Stock Exchange on Tuesday.
Prebet's revenues for the nine-month period reached 33 million lei, up 9% year-on-year.
The company's total assets rose to 67.2 million lei during January-September, compared to 59.7 million lei at end-2021. Prebet attributed the increase of its fixed assets to investments underway consisting in the construction of a photovoltaic park which will contribute to a decrease in electricity costs.
Prebet Aiud was founded in 1904 and currently manufactures a range of ferro-concrete and prestressed concrete prefabs for communication ways, railway and causeway.
Its shares last traded at 1.84 lei on Tuesday on the main market of the Bucharest Stock Exchange.
(1 euro=4.9032 lei)