Transilvania Constructii Expects RON4.2M Net Profit In 2011

04.21.2011 By Andrei Circhelan

Romanian construction company Transilvania Constructii Cluj-Napoca (COTR.RO) expects a net profit of 4.2 million lei this year (EUR1.05 million), from RON350,000 in 2010, fueled by a 32.5% increase in sales.

Sales are seen at RON47.11 million this year, compared to RON35.54 million in 2010.

Operating revenue should rise 58.4%, to RON68.68 million, while operating costs are seen up 49.3%, to RON63.38 million. Thus, the company should conclude 2011 with an operating profit of RON5.3 million.

Company stock closed Tuesday at RON33.03 per unit, flat on the day. Its shares are traded in second tier of the Bucharest Stock Exchange.

Stockholders include Mircea Timofte, with 30.14%, Gabriela-Camelia Timofte, with 29.46%, regional investment fund SIF Banat-Crisana (SIF1.