Remar Pascani 1Q Net Profit Slumps To RON148,500

05.06.2011 By Florentina Dragu

Romanian rolling stock repair company Remar Pascani (RMAR.RO) Friday reported a net profit of 148,500 lei (EUR36,036) in the first quarter, substantially lower from RON6.3 million in the same period a year earlier.

Remar posted operating loss of RON1 million, versus profit in the first quarter of 2010.

Total revenue fell 41.3% on the year to RON11.5 million, while overall costs declined 5.6% to RON11.2 million.

Cifra de afaceri a coborât de 4,2 ori, de la 33,6 milioane lei la 7,95 milioane lei.

The Pascani-based company reported a turnover of RON7.95 million, from RON33.6 million in the first quarter last year.

Remar is 89.57%-owned by railway freight carrier Grup Feroviar Roman (GFR).

On the Bucharest bourse Thursday, Remar closed down 0.46% at RON4.35 a share.