Broker Cluj makes 25% less

Cluj-based Broker, the only financial brokerage company listed on the Bucharest Stock Exchange, posted a 5.25 million RON (1.46 million euro) gross profit in the first two months of the year, down 25% compared with the same time last year. Broker”s gross profit in February amounted to 2.56 million RON (0.72 million euros), slightly lower than in the previous month, when the company had posted 2.69 million RON (0.74 million euro) income. “The February profit was not what it could have been because we continued to create cash reserves to enter the market again when it is going down. Corrections have created opportunities to buy lately, and we are gradually entering the market,” Petru Prunea, Broker chairman, told ZIARUL FINANCIAR. Prunea believes the company”s profit in 2006 will be higher than in 2005. Broker”s net income in 2005 stood at 13.16 million RON (3.6 million euros), over twice higher than in 2004. ZF