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Romanian PVC maker Teraplast Bistrita sees profit up by 6% in Q1, despite business shrank

Romanian PVC producer Teraplast Bistrita (TRP) booked a net profit of 2.58 million lei in the first three months, a 6 percent increase compared to the similar period of the previous year, despite its turnover reduced significantly, the company announced.

The PVC maker had a profit of 2.43 million lei after the first three months last year.

The company's turnover was slashed by 28 percent year-on-year in the first quarter, from 42.05 to 30.26 million lei. Total incomes lowered by 23 percent to 35.48 million lei, while total spendings were cut by 24 percent to 32.74 million lei.

Shareholders of Teraplast approved an investment program of 15.75 million lei for this year, as it expects a net profit of 16.24 million lei, 16 percent lower compared to 2008.

Teraplast is listed on the second tier of the Bucharest Stock Exchange (BSE) under the symbol TRP. Its main shareholders are Dorel Goia (33.15 percent), Emanoil Viciu (20.55 percent) and financial company SIF Banat-Crisana (SIF1) with 11.38 percent shares.

Its market value stands at 103.66 million lei according to a 0.3480 lei per share quota.

Sursa: http://www.newsin.ro

Tags: percent million teraplast profit sif