Condmag posted sales of RON41.2 million in January to June, compared to RON99.04 million in the same period of 2010.
Total revenue halved to RON50.71 million, from RON101.01 million in the first half of 2010, while overall costs dropped to RON50.33 million, from RON97.3 million.
Dafora (DAFR.RO), controlled by Romanian businessman Gheorghe Calburean, owns 45.82% in Condmag, while other 10.9% of the company’s shares are held by Dutch-registered investment fund OGBB A Van Herk.
On the Bucharest stock exchange Friday, Condmag shares were down 7.1% at RON0.26. (EUR1=RON4.2236)