It said revenue is expected to rise to RON260.1 million in 2011, while expenditure is forecast at RON241.7 million, up 10% on the year.
Sales are also expected to rise, by 17%, to RO250.5 million, from RON212.7 million in 2010.
Teraplast shareholders approved the results for 2010 and the budget for 2011 in a meeting held Friday. Another decision was to keep last year’s profit on hold, while the investment budget was calculated at RON6 million.
Investors also agreed to renew and increase a EUR1.8 million credit line contracted from BRD-Groupe Societe Generale (BRD.RO). The credit was included in the company’s EUR3 million credit cap for the next two years.
Company shareholders include Dorel Goia (34.2%), SIF Banat-Crisana (10.8%) and managing board president Emanoil Viciu (10.15%).
Teraplast (TRP.RO) shares were trading early Monday at RON0.51, down 7.27% on the day. (EUR1=RON4.0744)