SIF Banat-Crisana 1Q Revenue Down 25% To RON28M

04.29.2013 By Bogdan Neagu

Romanian regional investment fund SIF Banat-Crisana (SIF1.RO) Monday reported revenue of 27.9 million lei (EUR6.3 million) for the first quarter, down 25% on the year.

The fund’s expenditure was down 10% on the year to RON11.8 million in the January-March period.

SIF Banat-Crisana previously reported a net profit of RON13.8 million for the first quarter, which is 29% lower than the result in the year-earlier period.

Last week, the fund’s shareholders voted against dividend payment, opting instead to keep all last year’s profit as source of financing for new investments.

Monday in Bucharest, SIF Banat-Crisana shares traded at RON1.04, down 0.2% on the day. (EUR1=RON4.3366)