Vae Apcarom Net Profit Rises To RON0.97M In First Quarter

05.10.2011 By Andrei Circhelan

Romanian rolling stock maker Vae Apcarom Buzau (APC.RO) posted a net profit of 969,000 lei (EUR236000) in the first quarter, from RON216,000 in the same interval last year, according to financial results published Tuesday.

Vae Apcarom's sales tripled to RON16.26 million, from RON5.59 million in January-March 2010.

Revenue rose 71% on the year to RON20.49 million, while expenditure rose 64.8% to RON20.49 million.

The company expects a net profit of RON7.34 million this year, up 26.3% on the year.

In addition, sales are expected to rise 22.6% to RON90.79 million, from RON74.03 million in 2010.

The company has a share capital of RON7.3 million, divided into 73.7 million shares with a face value of RON0.1.

Vae Apcarom shares closed Monday at RON0.85, up 1.19% on the day. (EUR1=RON4.1039)