Higher revenues for Foraj Sonde Targu Mures

Foraj Sonde Targu Mures, a manufacturer of oil drills for probing and exploration, made net profits of 2.47 million RON (675,000 euros) in the first half of the year, down 33.9% on last year”s first-half profits of 3.74 million RON (1.13 million euros). The exploration business made the company 2.67 million RON (730,000 euros) in profits, down 43.58% on the first half of 2004, at a time when turnover rose 27.9% over the same period to reach 38.76 million RON (10.58 million euros). The increase in Foraj Sonde”s sales is mainly due to the development of geological surveying activity, as well as drilling activity with a view to liquid fluid injection, the company report shows. The reason for the drop in profits is the doubling of spending on raw materials and consumables compared with the same time last year to 3.63 million RON (3.73 million euros). Raw material and material expenses accounted for 38% of total spending by the company, compared with 26% in the corresponding period of 2004. ZF