In the first nine months of 2012, Socot’s net profit was over two-fold lower, to RON1.3 million, from RON3.1 million during the same period in 2011.
Revenues were down 45%, to RON60.2 million (EUR13.6 million) in the first nine months, from almost RON110 million in January to September of 2011.
Expenses dropped by 45% in the first nine months, from RON106 million to RON58.6 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.