Conect Business Park enjoys 33-fold profit in the first 9 months

The Conect Business Park Bucuresti (COEC) real estate developer posted RON 8.6 million (€2.56 mln) in net profit in the first nine months in 2007, a significant annual increase, due to the sale of several assets, according to the company.

Company business amounted to RON 6.2 mln (€1.84 mln) in the first three quarters of 2007, up 16.6 percent year-on-year, from RON 5.34 mln (€1.55 mln). Its net profit by the end of Q3 2006 was up to RON 264,300, almost 33 times less than that obtained in the first three quarters of 2007.

The rise in profit was due to the sale of assets, reflected in other revenues, worth RON 31.7 mln (€9.44 mln) in this year's first three quarters, much higher than the RON 331,700 level registered in the 2006.

Conect Business Park Bucuresti has a share capital of RON 16.2 mln (€4.7 mln), divided into 1.2 million shares, with a nominal value of RON 13.36 (some €3.88). The company's majority shareholder is Tinapack Co SRL, with a 96.98 percent share package. (NewsIn)