Transgaz targeting €375 mln in turnover

According to the company’s General Manager, Ioan Rusus, the increase will come from larger quantities of gas from within the country and imported transported by Transgaz, and from a drop in technological expenditures. According to a communique transmitted at the end of last wee to the Bucharest Stock Exchange, Transgaz shareholders approved total revenue for 2008 of some €385 mln.

Last fall, Transgaz officials estimated turnover for the entire year to amount to €339 mln, up 33 percent year-on-year, and gross profit worth €74 mln.

As concerns expenditures in 2008, the company is forecasting €290 mln, with €178 mln to be allocated for investments. Net profit could thus reach some €82 mln.

In the first nine months of 2007, the company registered revenue worth €217 mln, up 8 percent compared to the same period in 2006, while net profit dropped by 0.6 percent, to €52 mln.