Romania's electricity transporter Transelectrica sees five-fold smaller profit in 2007

The company posted 50.34 million lei profit in 2007, against 277.25 million lei in 2006. Its turnover lost 5.71 percent last year against 2006, from 2.45 billion lei to 2.31 billion lei.

Transelectrica saw total revenues of 2.39 billion lei in 2007, 8.31 percent less than the 2.609 billion lei posted in 2006. The company's spendings stood at 2.32 billion lei in 2007, increasing 1.51 percent compared to the 2.28 billion lei in the previous year.

Transelectrica has been listed at the Bucharest Stock Exchange since August 29, 2006. The state owns 73.7 percent of the company's share capital, while the Proprietatea Fund, created to pay damages to  people whose properties were seized during the communist regime, owns 13.5 percent. The company has a market value of 2 billion lei, at a 27.30 lei trading value established Thursday.

Source: NewsIn