H1 Results Exceed Expectations

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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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