In January to June last year, Uztel reported a loss of RON3.5 million.
Uztel said total sales rose 71% on the year to RON29.2 million in the first half, from RON17.1 million in the same period of 2010.
The company reported overall revenue of RON48.1 million, up 31% on the year, while total costs increased 27.5% to RON51.3 million.
Uztel has a share capital of RON11 million split up into 4.4 million shares with a face value of RON2.5.
The company is majority owned by the employees’ association, with an 83.8% stake. Uztel filed for insolvency last year, because it couldn’t find a viable strategy to jump-start operations, which were hit hard by the recession.
Uztel estimates it will swing to net profit of RON7.2 million in 2011, versus a loss of RON17.6 million in 2010.
Uztel’s shares were last traded in Bucharest in August 2010 at RON2.25 a unit, down 10% on the day. (EUR1=RON4.262)