SIF Transilvania Posts RON23.8M Net Profit In 1Q

05.02.2011 By Andrei Circhelan

Romanian regional investment fund SIF Transilvania (SIF3.RO) Monday reported a net profit of 23.78 million lei (EUR5.82 million) for the first quarter, compared to a loss of RON3.56 million in the same interval of 2010.

The fund started the year strong, posting a RON23 million profit at the end of January.

Revenue jumped, in the first three months of 2011, to RON58.96 million, from RON4.3 million in the year-earlier period, following sales of shares in the fund's portfolio.

Expenditure almost quadrupled, to RON30.68 million, the fund said.

The company's management expects a net profit of RON68 million this year, up 1.6% from 2010.

SIF Transilvania shares were trading mid-Monday at 0.5845 per unit, up 0.6% on the reference. (EUR1=RON4.086)