Teraplast Expects Net Profit To Rise At RON15.4M In 2011

05.02.2011 By Andrei Circhelan

Romanian plastic systems maker Teraplast (TRP.RO) expects a net profit of 15.4 million lei (EUR3.8 million) this year, up from RON6.4 million in 2010, following a 15% rise in revenue, the company said Monday.

It said revenue is expected to rise to RON260.1 million in 2011, while expenditure is forecast at RON241.7 million, up 10% on the year.

Sales are also expected to rise, by 17%, to RO250.5 million, from RON212.7 million in 2010.

Teraplast shareholders approved the results for 2010 and the budget for 2011 in a meeting held Friday. Another decision was to keep last year's profit on hold, while the investment budget was calculated at RON6 million.

Investors also agreed to renew and increase a EUR1.8 million credit line contracted from BRD-Groupe Societe Generale (BRD.

RO). The credit was included in the company's EUR3 million credit cap for the next two years.

Company shareholders include Dorel Goia (34.2%), SIF Banat-Crisana (10.8%) and managing board president Emanoil Viciu (10.15%).

Teraplast (TRP.RO) shares were trading early Monday at RON0.51, down 7.27% on the day. (EUR1=RON4.0744)

Keywords:: TERAPLAST; , RESULTS; , FORECAST