Top stock exchange listed companies made 70% of profit budgeted for 2008

The largest companies listed on the Bucharest Stock Exchange (BVB) made some 70 percent of the profit budgeted for the entire year in the first half of 2008, according to an analysis carried out by Intercapital Invest brokerage company, with listed companies generally conservative when it comes to their budgets, in order to "surprise" investors at the end of the year.

At the same time, category II companies on the stock market, which include mostly small and medium-sized companies, have met an average 45 percent of this year's target profit.

The analysis takes into account the half-year results reported by major companies listed on BVB, whose average calculation excludes extreme values.

"The first category are companies with very high profits, because these benefitted from certain favorable circumstances, such as Petrom, from the high price of oil. Category II companies did not enjoy such benefits. Furthermore, companies have made increasingly pessimistic budgets, so it is normal for the share of the revenue-expenditure budget to be higher," added Adrian Danciu, Broker Cluj analyst.

Business Standard