February 28 (SeeNews) - Raiffeisen Capital & Investment (RCI) said on Thursday it has put Romanian power grid operator Transelectrica stock under review after the company released its forecasts for this year’s financial results. Transelectrica said late on Wednesday it expects its gross profit to rise this year to 90 million lei ($37 million/25 million euro) from a preliminary gross profit of 76.1 million lei in 2007. Its revenue is seen going up to 2.9 billion lei from the preliminary 2.4 billion lei for last year. “Based on the previous years’ developments, we believe the management is taking a rather pessimistic approach towards its 2008 budget in order to assure itself that an unexpected increase by the Regulatory Authority in the price of energy purchased to cover technological consumption or higher congestion expenses, which are not fully controlled by the company, would not prevent Transelectrica from meeting its profit target,” RCI said in a statement.
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