Ana Imep profit down, business up

Electrical engine producer Ana Imep Pitesti in the first half registered an 8% drop in profit, in nominal terms, though the company produced and sold a higher volume of engines as compared to the previous year. In the first six months, the company registered net profit worth 56 billion ROL (1.4 million euros). The producer’s H1 turnover amounted to 752 billion ROL (18.8 million euros), 11% higher in nominal terms as compared to the first half of 2003. Ana Imep, controlled by businessman George Copos, produces electrical engines for home appliances, such as washing machines. The increase in turnover was due to higher demand on the domestic market, whereas the company’s exports posted a slight decrease, to 16.8 million euros. On the foreign market, Ana Imep delivered fewer engines, especially to Turkey and Italy. The bulk of Ana Imep production is exported, particularly to the Italian market. Last year, sales to Italy accounted for more than 60% of Ana Imep’s turnover. ZF