Broker Cluj is satisfied with €1 mln in profit

Prunea estimates that Broker Cluj could end 2008 with a net profit of some €1 million, slightly above the earnings registered in this year’s first nine months.
“As is the case with banks, investors are on hold, and tend to extend negotiations, probably mainly due to Western shareholders who have now become very reserved,” Prunea added.

Broker Cluj posted earnings worth some €900,000 at the end of September, but a drop on the stock exchange has affected the company’s results compared to last year’s same period. Broker Cluj had hoped to raise its 2008 profit by selling some share packages of companies such as Facos Suceava, Remat Baia Mare, or Cemacon Zalau. However, “prices on the market are extremely low. There is a big difference between what we are asking and current prices,” according to Prunea.