Azomures expects total expenditure will increase 6.1% on the year to RON1.56 billion, the company said in a statement Wednesday. Overall revenue is seen sliding 8.4% to RON1.73 billion, from RON1.9 billion in 2011.
The company rejected a proposal from minority holder Fondul Proprietatea (FP.RO) to pay out total dividends of RON219.1 million from the 2011 profit and decided to keep the money to finance operations instead.
Azomures last distributed dividends in 2004.
The company is 75.8%-owned by Swiss grain trader Ameropa Holding AG.
On the Bucharest bourse April 27, Azomures closed down 1.16% at RON1.961 a share. (EUR1=RON4.397)