Prospectiuni Posts Net Profit Of RON12.8M In First Quarter

05.13.2011 By Andrei Circhelan

Prospectiuni Bucuresti (PRSN.RO), provider of geological surveys for the gas industry, Friday reported a net profit of 12.8 million for January-March 2011, compared to RON0.95 million in the same interval of the previous year.

Revenue more than doubled to RON71.9 million, from RON33.8 million in the first three months of 2010, while expenditure rose 73% on the year to RON56.5 million.

Sales rose to RON67.8 million, from RON32.5 million in January-March 2010.

The company is 58.7% owned by businessman Ovidiu Tender, through Tender SA Timisoara, while investment fund SIF Muntenia (SIF4.RO) holds 11.8%.

On Bucharest bourse, Prospectiuni shares closed up 1.22% Friday, to RON0.241. (EUR1=RON4.106)