Cocor makes 500,000-euro Q3 profits

Cocor Bucharest, a company whose real estate assets include the store of the same name in Bucharest, saw its third quarter gross profits grow in comparison with the average of the first two quarters this year. Cocor made 21.2bn ROL (0.5 million euros) in gross profits in the third quarter of the year, compared with the 25.9bn ROL (0.6 million euros) for the first half of the year. Thus, after nine months, the company’s gross profits had reached 47.1bn ROL (1.2 million euros), against a 97.6bn (2.4 million euros) turnover. The company’s core business is rental of commercial space (shops). It also derives revenues from the portfolio of listed shares it manages. Its rental business brought in 38bn ROL (1 million euros) in profits for the first nine months of the year, while profits related to their financial operations reached 9bn ROL (0.3 million euros). Company officials announced in recent months that Cocor’s gross profits would easily reach 200bn ROL (5.3 million euros) by the end of the year. ZF