Vrancart posted a profit of RON720,000 in January to March, down 26% on the year, as its financial loss surged to RON1.79 million from just RON50,000 in the first quarter of 2011.
For 2012, Vrancart estimates a 7% increase in revenues to RON186.6 million (EUR42.6 million) and a nearly three-fold higher profit of RON6.1 million (EUR1.4 million).
Vrancart is 74.7% owned by regional investment fund SIF Banat-Crisana (SIF1.RO).
On the Bucharest Stock Exchange Wednesday, Vrancart closed down 2.21% at RON0.06 a share. (EUR1=RON4.416)