14m-euro profit for SIF Oltenia

SIF Oltenia saw a profit worth 6.5 million RON (1.86 million euros) in April, securing the top spot in a ranking, based on the amount of profit for the first four months of the year. SIF Oltenia posted a gross profit worth nearly 49.4 million RON (13.9 million euros) in this period, accounting for 70% of the total profit budgeted for 2006. The profit witnessed by SIF Oltenia in April was because the company sold the majority stake that it owned in Avicola Tartasesti. The transaction worth 14.56 million RON (4.16 million euros) was conducted at the end of March, but the change was registered in SIF Oltenia”s portfolio in April. SIF Muntenia, the other financial investment company that had not revealed its results for April, saw a drop of 4.1 million RON (1.15 million euros). SIF Muntenia”s profit four months into the year stood at 47.7 million RON (13.4 million euros). SIF Muntenia has already achieved 74% of the profit budgeted for this year. The SIFs will collect their dividends worth 9 million euros from the BCR and the BRD in the forthcoming period, which are among the most significant revenues that these companies are set to receive. ZF