The company exceeded planned profit for the entire year. Transelectrica representatives say they expect an operational profit of over RON 255 mln (€72.4 mln), similar to that in 2006. The value of company shares increased 7.6 percent on the stock exchange yesterday and capitalization exceeded €500 mln.
“The growth of profit in Q1 was due to an increase in income over budget, an average 5 percent over initial estimates, and to a reduction in costs. We managed to avoid all expenses in terms of congestion,” said Capital Markets General Manager at Transelectrica, Razvan Purdila.
Transelectrica’s turnover rose by over 40 percent in Q1, up to €213.6 million. Company officials say the good management of expenditures will help Transelectrica obtain a profit above budget. “We expect the influence of the evolution of the foreign exchange rate to have a lower impact than last year,” says Purcila.
