In the similar period of last year, the company reported turnover of RON408.3 million and profit of RON44.2 million.
Azomures’ revenue increased in the first three months of this year by 11.7%, to RON460.5 million (EUR105.8 million), while expenses grew by 12.7%, to RON404.8 million (EUR93 million). In the first quarter of 2011, revenues totaled RON412.2 million and expenses amounted to RON359.2 million.
This year, the company expects net profit to fall 2.5 times, to RON143.7 million (EUR32.4 million), compared with the RON365.1 million profit posted last year. Revenue is also seen down by 8.4%, to RON1.73 billion (EUR390 million), while expenses would increase by 6.1% to RON1.56 billion (EUR361.5 million). Last year, the company reported RON1.89 billion in revenue and expenses of RON1.47 billion.
In mid-March, Azomures was bought by Swiss fertilizer and grain trader Ameropa, which now controls 75.87% of the stock, and also owns Ameropa Grains Constanta (CCRL.RO), the former Comcereal Constanta. Fondul Proprietatea owns 11.12% of Azomures’ stock.
On Monday on the Bucharest Stock Exchange, Azomures closed up 0.56% at RON1.979. (EUR1=RON4.4373)