SIF (Financial Investment Company) Muntenia posted net income worth 79.14 million RON (22.3 million euros) in the first seven months of the year, up only 0.9 million RON since the end of June. The management of Muntenia Invest, the company managing SIF Muntenia's portfolio says that results of the financial investment company will not see significant changes before the end of the year.

"We are not expecting these results to see significant changes before the end of the year, as we have already exceeded our budget estimates. We are not planning any significant sales this year. There will be transactions, but their value will range from several hundred thousands to several million RON and we will also collect interests. At the same time, expenditures are comparatively unchanged from one month to another," said Petre Szel, chairman of Muntenia Invest.

SIF Muntenia earned most of its profit at the beginning of the year, when it sold its stake in pharmaceuticals company Sicomed. Halfway through the year, the company also collected dividends from the banks. Dividends are one of the main sources of revenues for the SIFs.

Officials of Muntenia Invest also said they intended to start buying more shares in some of the companies listed on the Stock Exchange, by the end of this year.

"We want to increase our exposure to the companies listed on the Stock Exchange, since we now have cash accounting for 10% of net assets and we want to reduce this level. We plan to make acquisitions both among the companies already listed on the market, and among those that are to enter the Stock Exchange this year," says Petre Szel. At the end of July, SIF Muntenia had over 73 million RON (20.6 million euros) in bank deposits, and several million euros in T-bills.

Seven months into the year, SIF Oltenia has the biggest profit among the SIFs, worth 91.65 million RON (2