EnglishElectrical and electronic equipment manufacturer Electromagnetica Bucharest, listed on Rasdaq, reported first quarter net profit of 774.040 RON, twice what it earned for the same period last year. Turnover rose by 25.7%, amounting to 43.175 million RON (13.15 million EUR), compared with 34.347 million RON in the year-ago quarter.
The company ended 2006 with a net profit of 8.89 million RON (2.63 million EUR), up 3.2 times from 2/75 million RON in the past year. Business saw a 87% growth, totaling 205.4 million RON (60.74 million EUR), compared with 109.73 million RON in 2005.
Electromagnetica has a share capital of 33.8 million RON (10 million EUR), divided into 146.96 million shares with a face value of 0.23 RON/share. The employees association holds 49.13% in the company, followed by SIF Oltenia (SIF5) with 10.11%.
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