EnglishGlass producer Stirom SA Bucharest posted a net profit of 13.7 million RON (4.38 million EUR) in the first half of 2007, up 37 times from 363,389 RON in the same period last year, according to a company press release. Turnover amounted to 73.01 million RON (23.29 million EUR), recording a 6.8% increase from 68.29 million RON in H1/06.
Stirom reported a financial profit of 4.75 million RON, as compared with a financial loss of 464,215 RON in the corresponding period of 2006. The company cut its operating expenses by 23.23% in the first six months. Raw material expenses totalled 19.63 million RON, down 44% from the same period last year.
Stirom has a share capital of 17.09 million RON, divided into 6.87 million shares. The majority shareholder is MGL Mediterranean Glass Limited with 63.12% in the company. Stirom is listed on Rasdaq as STIB and has a market capitalisation of 95.72 million RON (29.33 million EUR).
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