EnglishCocor Bucharest (RASDAQ: COCR) posted 5 million RON in net profit for 2006, down by 77% year-on-year. Economic Manager Ion Anghelus explained the setback saying that most of the profit posted in 2005 had come from the sale of shares in financial investment firms (SIF). In 2005, the maximum allowable stake in a SIF was lowered to 1% so the company had to sell the outstanding shares.
For the current year, the company projects a net profit of 4.6 million RON. Last year"s turnover stood at 13.2 million RON, up by 14% year-on-year. The current year"s turnover estimate is 15.8 million RON. Cocor reported EBITDA of 8.8 million RON (+25.7%) and EBIT of 4.2 million RON (-28.8%) for last year and estimates EBITDA of 10.4 million RON and EBIT of 5.6 million RON for this year.
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