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Friday, November 26, 2004

SIF Transilvania is top profit-maker

Last month SIF Transilvania was again the top financial investment company in terms of profits since the beginning of the year. It achieved net profits of 818bn ROL (20.5 million euros), up 45% from the end of September.

The company made no less than 256bn ROL (6.4 million euros) last month, largely through selling 4.7% in Rompetrol Rafinare (Petromidia) on the Bucharest Stock Exchange (BSE), for which it received 14 million euros.

It already had one of the highest profits among SIFs in September due to its selling on the stock exchange of several stakes accounting for a further 4% in Petromidia. SIF Transilvania is the most expensive of all the SIFs on the BSE, its share price having come close to 10,000 ROL for the first time ever last week. It closed at 9,650 ROL yesterday.

Earnings per share at the end of October were approximately 1,500 ROL. Second top profit maker last month was SIF Oltenia with 698bn ROL (17.5 million euros). It doubled its profits in October after selling 0.6% in Petrom. It later bought this stake back at a 20% lower price during the capital increase operation by the petroleum company.

Posted by Mihai : 11/26/2004 11:42:00 am