Broker''s profit down to half

The financial brokerage company Broker based in Cluj posted profit standing at 2.69 million RON (0.74 million euros) at the end of January, 50% lower in RON and 48% lower in euros against the profit seen in the same period last year. The management explains this drop by their adopting of a different investment strategy this year. “Last year, stakes had been put aside in advance, such as the Neptun shares for example, which had matured, and we were able to make a hefty profit off them,” Petru Prunea, chairman of SSIF Broker told ZF. He says that the company is currently bracing for a market decline. “This year, we have built up reserves in order to take advantage of a possibly more lasting decline of the market, which I think will happen,” Prunea added. Broker”s chairman believes the company will see a bigger profit this year than the one seen in 2005. “I think we will see a bigger profit this year against the one seen last year,” said Petru Prunea, who did not wish to provide any more details on the estimated profit for 2006 for the time being. ZF