Shareholders of Avicola Braşov approved the taking out of a 50 million lei loan

Shareholders of Avicola SA Braşov approved the decision of the Board of Administrators to take out a 50 million lei loan for a maximum period of 360 days, according to a communiqué sent to the Bucharest Stock Exchange.
The company will offer as collateral 13 plots of land and buildings, pledge the company"s current account of 56.856 million lei, two promissory notes of 5.682 million lei and 56.821 million lei respectively, as well as the assignment of a receivable.

Avicola Braşov posted a profit of 4.6 million lei, up over four times from Q3 2008, according to the report sent to the Bucharest Stock Exchange. At the same time, the company"s turnover increased by 41%, to 74.7 million lei, up from just 52.8 million lei.

Revenues from the first nine months of this year amount to 70.3 million lei, up 17% YOY, whereas expenses increased 11% to 65.6 million lei.

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