Electromagnetica - higher sales, lower profit
Electromagnetica Bucharest, a producer of electrical and electronic equipment, posted first-half profit of 19.3 billion ROL, 13% lower in nominal terms since the year-ago period. The decline in profit was due, according to the company's management, to the shrinking telecommunications equipment market and to increased production of less profitable equipment
Electromagnetica Bucharest, a producer of electrical and electronic equipment, posted first-half profit of 19.3 billion ROL, 13% lower in nominal terms since the year-ago period. The decline in profit was due, according to the company’s management, to the shrinking telecommunications equipment market and to increased production of less profitable equipment. The profit drop was also reflected in the gap between profit and turnover. The company’s profit slumped amid a 60% turnover rise in nominal terms. Turnover amounted to 212 billion ROL (6.4 million dollars) in the first half. The company decided to invest in a domain that is not part of its core operations: real estate. ZF
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