Oil carrier "Conpet" Ploieşti (symbol: COTE) reported a net profit of 23.4 million lei in H1 2011, up from 15.3 million lei in H1 2010.
The company"s gross profit stood at 28.2 million lei in H1 2011, an increase of approximately 49% over H1 2010. The company"s officials reported that the increase of the gross profit was caused by the rise of the profit from financial activities by 12.27 million lei, compared to H1 2010.
In the first half of 2011, the total revenues of "Conpet" increased to 202.7 million lei, up from 193.9 million lei during last year"s similar period. Total expenses decreased slightly, to 174.4 million lei, from 175 million lei, what they were in H1 2009.
At the end of June, the company had 1.4 million lei, compared to 174.6 million lei, at the end of June 2010. "Conpet" had a net profit of 8.23 million lei, after posting net losses of four million lei in the similar period of 2010.
"Conpet" Ploieşti has a share capital of 28.5 million lei, split into shares with a face value of 3.3 million lei. The Romanian state owns 58.7% of the company (COTE), and the Proprietatea Fund has a stake of 20% in the company.
Ş.C. (Translated by Cosmin Ghidoveanu) Oil carrier "Conpet" Ploieşti (symbol: COTE) reported a net profit of 23.4 million lei in H1 2011, up from 15.3 million lei in H1 2010.
The company"s gross profit stood at 28.2 million lei in H1 2011, an increase of approximately 49% over H1 2010. The company"s officials reported that the increase of the gross profit was caused by the rise of the profit from financial activities by 12.27 million lei, compared to H1 2010.
In the first half of 2011, the total revenues of "Conpet" increased to 202.7 million lei, up from 193.9 million lei during last year"s similar period. Total expenses decreased slightly, to 174.4 million lei, from 175 million lei, what they were i
