Compa doubles profit estimates

Automotive components maker Compa Sibiu has revised its full-year forecast upwards. The company now expects net profits to reach more than 1.6 million euros for 2004, compared with the 0.8 million euros previously forecast. The new result is over three times higher than last year’s profit. Compa should make 39.7 million euros in turnover, according to its own estimates, up more than 52% on 2003. The budget anticipated turnover to be 24.1 million euros for 2004. Company officials were unavailable for comment on the revised estimates. Adjustment of the full-year forecast was prompted by the higher results seen by Compa for the first nine months of the year. Its nine-month profits stood at 1.5 million euros, more than seven times higher than for the corresponding period last year, while turnover was up 50% at 28.3 million euros. ZF