Rompetrol Well Services posts 90% y/y higher net profit in 2007 to 19.4m lei

Romanian drilling company Rompetrol Well Services, part of the Rompetrol Group NV posted a 90 percent higher net profit in 2007 against the previous year on higher revenues, according to the preliminary financial results announced today at the Bucharest Stock Exchange.

Rompetrol Well Services' net profit reached 19.4 million lei (5.38 million euros) while its revenues rose 40 percent to 87.4 million lei. The company's net profit stood at 10.2 million lei in 2006.

The company's earnings reached 91.75 million lei last year, a 50 percent increase from 2006 while spendings rose 33.4 percent to 68.3 million lei from 51.2 million lei in 2006. Debts upped 20 percent to 7.9 million lei.

Rompetrol Well Services has a share capital of 13.91 million lei divided into 139.1 million shares at a 0.10 lei face value. The company is majority owned by the Rompetrol NV with 51 percent. The company's shares are listed at the second tier of the Bucharest Stock Exchange under the PTR symbol.

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