EnglishElectrical equipment producer Electroaparataj Bucharest reported a net profit of 630,303 RON for the first quarter of the current year, down 27.64% from the same period last year. The profit drop was mainly due to the company"s production relocation. Revenue totaled 22.48 million RON, a 4.7% increase from the year-ago quarter, while expenses rose by 7.26%, amounting to 21.85 million RON. Turnover amounted to 20.25 million RON, up only 1.51% from the same period last year.
In the Extraordiary General Meeting held on July 25th last year, shareholders approved the split-off of Electroaparataj, the three resulting companies being ELJ Vatra, ELJ Real Estate and ELJ Platforma Titu. In order to operate this move, Electroaparataj reduced its share capital by 7.59 million RON to 6,461,535.10 RON. The majority shareholder is Broadhurst Investments Ltd. with 67.8% in the company, followed by Electroaparataj with 10.8%. The company is listed on the Bucharest Stock Exchange as ELJ.
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