Armax said its pretax profit more than halved to RON0.27 million in January through March, from RON0.64 million in the first quarter of 2012.
Overall revenues fell 38% on the year to RON15.8 million in the first three months of 2013, while total costs declined 37% to RON15.6 million.
The company is 42.62% owned by general manager Mircea Simion Vescan, while various other shareholders hold the remaining 57.37% shares.
Thursday, Armax closed up 0.65% at RON0.0624 a share in Bucharest. (EUR1=RON4.3375)