The profit growth was supported by a 89% increase in sales, to RON215.9 million (EUR51.3 million), on higher orders from the company’s main clients, OMV Petrom (SNP.RO) and Romgaz, and from foreign clients as well.
Prospectiuni said in its financial report that Petrom, Romgaz, Chevron Romania, Aurelian Petroleum, Amromco, Mohave (Portugal) and Cicle Oil&Gas (Morocco) were the main clients in the third quarter. The current orders cover the entire production capacity until the end of the year, according to the report.
It said revenue almost doubled to RON229.3 million, from RON122 million in the first nine months of 2010, while expenditure rose 70% on the year to RON192.5 million.
The company is 55.7% owned by businessman Ovidiu Tender, through Tender SA Timisoara, while investment fund SIF Muntenia (SIF4.RO) holds 11.8%.
On Bucharest bourse, Prospectiuni shares were down up 5% Monday, to RON0.2, while the general market index BET-C was flat on the day. (EUR1=RON4.3448)