Instead, the shareholders approved the proposal of Socep’s Board of Directors which sets that RON92.4 million from the net result represents undistributed profit, and the remainder goes to the legal reserve and the reserve of reinvested profit.
Socep has a market capitalization of RON1.2 billion after its shares have gained 311.5% in the last 12 months, amid deals worth RON10.6 million. The company is 61.2%-owned by DD Constanta Group.
Socep ended 2023 with profit of RON92.7 million, up 117.5% from RON42.6 million reported in 2022, as per its preliminary financial report, which offers no explanation regarding the financial evolution in 2023. Revenue increased by 44.9% to RON202.3 million on the year in 2023, while debts climbed to RON281.7 million from RON277.3 million in 2022, the company said in its financial report.