Profits worth €18 mln drive 6 percent growth of Azomures shares

The quotation of fertilizer producer Azomures rose 6.2 percent early in Tuesday’s Bucharest Stock Exchange (BVB) session. The growth comes after an announcement by the company of profits worth €18 million in 2007, following the sale of a 50 percent share in gas storage and supply company Depomures.

Transactions of Azomures shares amounted to some €100 mln yesterday, following the transfer of 0.3 percent of its stock.

The company’s main shareholder, Turkish-based Transworld Fertilizers Holding, has a 55.9 percent share of the local producer’s capital. Other significant shareholders are local Azomures Holding, with 19.05 percent, and Romanian state-established Fondul Proprietatea, with 7.69 percent of the shares. The company’s market capitalization amounts to €29.7 mln.