Aerostar 1Q Net Profit Almost Flat YY At RON2.7M

05.05.2011 By Andrei Circhelan

Plane maker Aerostar Bacau (ARS.RO) Thursday reported a net profit of 2.73 million lei (EUR665,000) in the first quarter, similar to RON2.71 million in the same interval of the previous year.

Sales rose slightly, to RON31.18 million, from EUR30.79 million, according to the company's first quarter results.

Revenue inched down, to RON35.26 million, from RON35.57 million, while expenditure decreased to RON31.23 million, from RON32.34 million.

The company is 71.09% owned by Iarom Bucuresti, while regional investment fund SIF Moldova (SIF2.RO) holds a 12.07% stake.

Aerostar shares closed up 2.65% Thursday, to RON0.97.