In the first six months of 2011, the company posted losses of RON4.99 million and turnover of RON99.03 million.
According to a report sent Friday by Teraplast to the Bucharest stock exchange, extreme weather in the first two months of the year delayed the start of the construction season, while political instability froze financing for many public works projects.
Teraplast’s total revenue grew by 2.7% in the first semester, to RON112.53 million, while expenses were up 1.6%, to RON116.4 million. The company’s exports increased by around 48% on the year, reaching a share of 17% of turnover, from 11% last year.
Teraplast is part of the Teraplast Bistrita Group, which also includes the subsidiaries Plastsistem, Politub, TeraGlass and Tera Tools. The company is 34.2% owned by Dorel Goia, while SIF Banat-Crisana (SIF1.RO) holds 11%. (EUR1=RON4.4265)
On August 10 on the Bucharest Stock Exchange, Teraplast closed down 2.94% at RON0.165 per share. (EUR1=RON4.5396)