SIF Banat-Crisana profit drops 38% in Q1

Income posted by SIF Banat-Crisana in Q1 increased 2.6 percent, to RON 12.1 mln (€3.3 mln) from RON 11.8 mln (€3.2 mln) in Q1 2007, while expenditures rose 42 percent to RON 8.3 mln (€2.2 mln) from RON 5.8 mln (€1.5 mln) in that same period.

The company has a capital worth RON 54.8 mln (€14.8 mln), made up of 548.8 million shares, with a nominal value of RON 0.1. Shares ended yesterday’s stock exchange session at RON 2.33, down 5.67 percent, registering the highest loss of shares of the five SIFs.

The stock market dropped 25.5 percent in Q1 2008, subject to the harshest correction ever in the first quarter since the exchange was established in 1995, due to a decline of shares on international markets, a trend provoked by the US mortgage crisis.