Eco-Products Maker Comelf Bistrita 1Q Net Profit Rises To RON0.7M

05.13.2011 By Florentina Dragu

Romanian Comelf Bistrita (CMF.RO), maker of industrial and eco-protection machinery. Friday reported a net profit of 711,000 lei (EUR168,000) in the first quarter, well above RON57,000 in the year-earlier period.

Comelf said total revenue rose 45% on the year to RON34.9 million (EUR8.2 million), while overall costs were up 41% to RON34 million (EUR8.2 million).

Turnover was at RON32.2 million (EUR7.6 million), up 52% from RON21.2 million in the first quarter of 2010.

Comelf has a share capital of RON13.5 million split up into 23.4 million shares with a face value of RON0.58.

The company's main shareholder is Uzinsider Bucuresti, with a 76.79% stake.

On May 4, Comelf's shares closed flat at RON2.6 in Bucharest. (EUR1=RON4.0997)