Romania's Oltchim steps on the red tape in Q3 following deficit in financial activity

Oltchim's net profit in 2006 stood at 697,400 lei. The financial loss in July-September 2007 deepened 33.18 percent and profit from exploitation dropped 19.92 percent versus the same period last year.

The company's revenues decreased 8.54 percent in Q3 from 474.02 million lei down to 433.56 million lei. Oltchim's net profit in the first nine months of the year stood at 3.37 million lei, a 57.72 tumble from the same period last year. The company turned over 1.31 billion lei, 1.76 percent more than it did in the first nine months of last year.

Oltchim currently has a share capital worth 354.695 million lei, divided in 3.55 billion shares at 0.10 lei face value. The company’s main shareholder is the Authority for State Assets Recovery, which holds 95.73 percent of the company’s share capital.

Source: NewsIn