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Romanian Craiova Auto Plant 1Q Net Pft Dn 41% YY To RON261,164

Romanian state-owned auto assembly plant Automobile Craiova (AUCS.RO) Friday said its first quarter net profit was down 41% to 261,164 million lei (EUR1=RON 3.6645) from the same period a year before, the plant said in a statement sent to Rasdaq market.
Romanian Craiova Auto Plant 1Q Net Pft Dn 41% YY To RON261,164
16 mai 2008, 12:03, English

Automobile Craiova reported a net profit of RON446,917 in the first quarter of 2007.

The plant’s first-quarter turnover was up 21% to RON2.4 million, compared with RON1.97 million in the first quarter of 2007.

Automobile Craiova reported total revenue of RON2.46 million in the first quarter of 2008, up 19.4% from RON10.23 million during the same period a year before.

The plant has a share capital of RON39.7 million, split up into 18.9 million shares with a face value of RON2.1 per share.

U.S. automaker Ford Co. (F) is Automobile Craiova’s majority stockholder with a 72.4% stake, acquired in 2007 in a EUR57 million deal. Romanian investment fund SIF Oltenia (SIF5.RO) holds a 22.06% stake in the plant.

The shares of Automobile Craviova closed up 0.85% on Rasdaq market Thursday , at a trade value of RON15.102,00.