Bakery Firm Boromir Prod Eyes RON3.86M Net Profit In 2011

04.28.2011 By Andrei Circhelan

Romanian bread and pastry maker Boromir Prod Buzau (SPCU.RO) Thursday said it expects a net profit of 3.86 million lei (EUR949,000) this year, significantly higher than RON507,000 in 2010.

Romanian bread and pastry maker Boromir Prod Buzau (SPCU.RO) Thursday said it expects a net profit of 3.86 million lei (EUR949,000) this year, significantly higher than RON507,000 in 2010.

Revenue should rise 21.2% on the year, to RON196.05 million, while expenditure should rise 19.5% on the year, to RON191.45 million.

In addition, shareholders agreed to an investment budget of EUR3.55 million, targeting equipment purchase and storage space upgrades.

The company is part of the Boromir group, owned by businessman Constantin Boromiz.

The group includes the companies Boromir Ind (Ramnicu Valcea and Deva), Boromir Pan, Moara Cibin (MOIB.RO), Extrasib Sibiu, Comcereal Sibiu, Amylon Sibiu (AMY.RO) and Panmed Medias.

Boromir Prod shares were last traded on April 22, at RON0.2689 per unit, up 1.47% on the day. (EUR1=RON4.0767)