Carbochim Expects Pretax Profit To Halve In 2011

04.26.2011 By Florentina Dragu

Romanian abrasives maker Carbochim Cluj-Napoca (CBC.RO) Tuesday estimated its pretax profit will fall to 1.2 million lei (around EUR295,000) in 2011, from RON2.5 million a year earlier, on higher expenses.

Romanian abrasives maker Carbochim Cluj-Napoca (CBC.RO) Tuesday estimated its pretax profit will fall to 1.2 million lei (around EUR295,000) in 2011, from RON2.5 million a year earlier, on higher expenses.

Total revenues are expected to increase by 4.4% on the year to RON31.5 million in 2011, while overall costs are seen advancing 9.3% to RON30.2 million.

Carbochim estimates a turnover of RON29.7 million, up 5.3% on the year.

The company will pay out a gross dividend of RON0.31 a share from last year's profit.

Carbochim has a share capital of RON9.7 million split up into 3.8 million shares with a face value of RON2.5.

Company board president Viorel Popoviciu holds a 17.69% stake in Carbochim. Other stockholders include SIF Banat-Crisana (SIF1.RO) with a 13.08% stake, Titus Popa with 11.16%, Pietro Ionescu with10.78%, Ion Raducanu with 10.68% and SSIF Broker (BRK.RO) with 11.32%.

On April 14, Carbochim closed up 1.74% at RON4.5 a share. (EUR1=RON4.0735)