Chimcomplex hopes for 5.7m-euro profit

Chimcomplex Borzesti, an inorganic chemical products company, set out to attain over 20 million RON (5.7 million euro) net profit next year, after having made net profits of more than 3.98 million RON (1.1 million euros) in the first nine months of 2005, 7.4 times more than in the corresponding period of 2004. The management decided against granting dividends from next year”s profit, which will be used for funding of future investments. The chemical plant hopes that next year will also come with a significant sales growth, therefore it anticipates turnover to stand at some 200.2 million RON (57.2 million euros), according to the Spending and Revenue budget published by the company. Chimcomplex”s turnover at the end of Q3, 2005 amounted to 101.86 million RON (28.14 million euros), one third higher than in the first nine months of the 2004. The sales growth in 2005 was mainly due to the increase in the exported output whose share in the total output went up from 54% in the first three quarters of 2004 to 64% in the same time of 2005. Under the circumstances, the company”s earnings were influenced negatively by the fluctuations on the forex market. Chimcomplex is controlled by A2 Impex SRL that owns more than 80% in it. ZF