Zimtub Sees 2011 Gross Profit Slightly Up At RON0.6M

04.29.2011 By Andrei Circhelan

Romanian steel tubes maker Zimtub (ZIM.RO) Friday said it expects a gross profit of 594,314 lei (EUR145,865) this year, slightly higher than RON589,199 in the previous year.

Romanian steel tubes maker Zimtub (ZIM.RO) Friday said it expects a gross profit of 594,314 lei (EUR145,865) this year, slightly higher than RON589,199 in the previous year.

Revenue is seen up 24.6% to RON42.5 million, from RON34.1 million in 2010.

The company plans to invest RON11.5 million this year, according to the budget approved by shareholders Wednesday.

Zimtub shares were last traded on April 5, at RON1.02 per unit. Shareholders include Belize-registered Flamboyant Ventures with 24.9%, Inter Ferm Fantanele with 32.8%. (EUR1=RON4.0744)