H1 Results Exceed Expectations

The first results reported by Romanian companies at the end of the first half of this year indicate that the growth rate of Romanian businesses has not slowed down; on the contrary, in some sectors of consumer goods sector the high temperatures have sustained sales booms, compared with previous years, says zf.ro.

Among the listed companies, TMK Artrom Slatina (ART), a tubular steel producer, registered a net income worth 43m RON (13m euros) in the first half; 2.4 times higher on the same period of last year. The company's turnover also surged by 80%, to 83m euros.

Comelf Bistrita (CMF), a producer of environmental protection equipment, reported a turnover worth 16.
12m euros for the first six months of the year, up 21.9% (in euros) against last year, alongside an income worth 0.75m euros, up 66%. For this year, Comelf has budgeted a 10% turnover increase year-on-year, to 32.7m euros (110m RON) and a 52% higher gross income worth 1.8m euros (6.2m RON). In addition, Comelf also plans to invest around 1m euros.

Bermas Suceava brewer (BRM) boosted its turnover by around 11%, to 3.56m euros, as a result of the high temperatures. The company's income advanced by 34% in euros and reached 0.43 million euros. Representatives believe both the revenue and income projections for this year will be beaten. For this year, the company targets a turnover worth 8.78m euros (29m RON), along with a net income worth 1.21 million euros (4 million RON).

Also in the beer industry, the domestic arm of SABMiller, the second biggest player on the market, reported an over 50% increase in sales generated in the first quarter of the fiscal year (April-June) against the corresponding period last year.

On the pharmaceutical market, Terapia Ranbaxy posted a turnover worth $66m (50m euros), while Hungary's Gedeon Richter group exceeded the 40 million euro mark and reported increases, which ranged between 10% and 25%, in production, distribution and for its retail segments.

Help Net was the first pharmacy network to publish its results for H1 and reported a turnover worth 23m euros, 30% higher against the same period in 2006. The company's net income amounted to 0.54 million euros. Both the 2,3% profit margin and turnover are in line with budgeted levels for this period and do not require any modifications to the estimates for the rest of the year. As a result, Help Net is expected to reach a turnover valued at 55m euros.

In the electrical home appliances sector, Arctic, the largest domestic producer, continues to remain in the black and registered a turnover increase of 24% in the first half, to 99m euros

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