The Argus Constanta vegetable oil producer registered a net profit worth RON 22.9 million (€6.2 mln) in 2008, 4.4 times higher year-on-year, according to the preliminary financial results sent to the Bucharest Stock Exchange (BVB), while company revenues rose some 52 percent, to RON 213 mln (€57.8 mln). The producer’s net sales surged 69 percent, to RON 213.8 mln
“Last year was a good one for the company. The market did well, although towards the end of the year it started to slide. We had a RON 22.9 million net profit, of which RON 7 million came from the sale of an asset we had in Tulcea [County],” the company’s Chairman, Vasile Leu, told Business Standard.
The oil producer’s expenses soared 40.8 percent last year, to RON 190.33 mln (some €44.37 mln). Its capital amounts to RON 53.7 mln (€12.52 mln), divided into 35.8 million shares, with a nominal value of RON 1.5 (€0.34). According to the latest reports, the firm’s main shareholders are the SIF Oltenia financial investment company, with 18.97 percent, and Vasile Leu, with 11.32 percent.
Read more in Business Standard
“Last year was a good one for the company. The market did well, although towards the end of the year it started to slide. We had a RON 22.9 million net profit, of which RON 7 million came from the sale of an asset we had in Tulcea [County],” the company’s Chairman, Vasile Leu, told Business Standard.
The oil producer’s expenses soared 40.8 percent last year, to RON 190.33 mln (some €44.37 mln). Its capital amounts to RON 53.7 mln (€12.52 mln), divided into 35.8 million shares, with a nominal value of RON 1.5 (€0.34). According to the latest reports, the firm’s main shareholders are the SIF Oltenia financial investment company, with 18.97 percent, and Vasile Leu, with 11.32 percent.
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