Aro losses, up 40%

The lack of funding for the manufacturing programme and dwindling deliveries to the local and foreign markets have pushed carmaker Aro Campulung’s losses up 40%, from 103.9 billion ROL (on June 30, 2002), to 146.3 billion ROL in H1, 2003. According to the first-half report, the company’s total revenues dropped 18.6%, from 311.8 billion ROL to 253.8 billion ROL, whereas spending went down 4%, to 400.1 billion ROL. The carmaker reported turnover worth 281.3 billion ROL, lower as compared to the same period of last year, when it had reached 302.4 billion ROL. During the above-mentioned period, physical production came to 392 units, down from the 674 cars made in the first half of 2002. Aro exported 24 autos, 53 units less as compared to the year-ago period. ZF