The cumulated profits of 63 of 69 companies listed on the Bucharest Stock Exchange halved in 2009, the worst year for the Romanian economy in the last decade. Still, revenues and turnovers of companies did quite well, going down by merely 13% overall to 41.2 billion RON (9.7 billion euros), compared with the 7.2% GDP plunge.
Listed companies cut their losses ten times in the last quarter, and those in the industry showed signs of a rebound, posting rising turnover. Cumulated revenues and turnover derived by 63 companies listed on the Stock Exchange fell by 28% in the last three months of 2009 against 2008, to 13.5bn RON (3.17bn euros), amid a 6.6% economic decline. However, the overall losses of BSE listed companies went down ten times in the fourth quarter, to 66.7m RON (15.6m euros), in the wake of a more stable exchange rate and expense cutting steps taken by managers. Almost one third of the surveyed 63 companies cut their losses in the fourth quarter, and 13 of them managed to return to profit. "Listed companies' figures will be ever more surprising starting the first quarter, and attention will focus on companies with cyclical activity. In terms of Stock Exchange investments, in this phase of the stock market cycle, at least theoretically, the fields recommended for investments are tourism, oil/gas and real estate (...)," says Andreea Gheorghe, head of the research department of Intercapital Invest brokerage.
The cumulated profits of 63 of 69 companies listed on the Bucharest Stock Exchange halved in 2009, the worst year for the Romanian economy in the last decade. Still, revenues and turnovers of companies did quite well, going down by merely 13% overall to 41.2 billion RON (9.7 billion euros), compared with the 7.2% GDP plunge.
Listed companies cut their losses ten times in the last quarter, and those in the industry showed signs
