Expenses dropped by 22% in the first half of this year, from RON57.9 million to RON45.3 million (EUR10.3 million).
In the first half of 2011, the company posted revenue of RON60.5 million and pre-tax profit of RON2.5 million.
Some 95% of Socot’s contracts are with the state-owned national water administration.
According to the latest available data, 32.43% of Socot stock is owned by Sorin Apostol, one of the main shareholders of brokerage house Swiss Capital. Eugen Popa, chairman of the board and general manager of Socot, owns 21.57%. Socot’s employee organization controls 22.25% of the capital.
On June 5 on the Bucharest stock exchange, the company’s shares closed up 36% at RON34 per share.