Romania: Argesana Pitesti Posts H1 Net Profit Up at 87,282 RONPublish date: Astazi, 23-08-2006
The company currently records a low profitableness rate, with the main cause being the non-favourable influence of the RON-euros exchange rate.
Total revenues of the company stood at 6.332 million RON in H1, of which 6.137 million RON are revenues from the exploitation and 195,132 lei financial revenues, with the expenditures amounting to 247,396 RON, of which 5,994 million RON exploitation expenditures and 247,396 lei financial expenditures.
The company's products are Wool Blend licensed, with the production capacity reaching two million sq m per year, also with the help of some investments in the upgrading of the company's main sections: spinning, weaving and finishing.
Late in 2001, the company was privatized, the main shareholder becoming the Argesana Employees Association.
<a href="http://www.actmedia.ro" target="_blank">Source: ACT Media News Agency</a>
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