Investors penalise Compa

Compa Sibiu, one of the leading car parts manufacturers in Romania, lost over 9% on the Stock Exchange on Friday after reporting losses in the fourth quarter, which profoundly damaged the profit registered in the first nine months of the year. The company closed last year with a net profit of 1.33 million euros (4.8 million RON), 18% less in euros and 27% less in RON against the 2004 profit. In the last quarter of 2005, Compa posted losses standing at 0.9 million euros (3.3 million RON), after having achieved a net profit of 2.25 million euros at the end of September, 45% higher than the income in the similar period of the previous year. Last year, Compa posted a turnover of 62.2 million euros (225.3 million RON), 51% more than in 2004. Compa”s results are lower than those budgeted by the company management, which estimated a net profit of 5.04 million RON for 2005 for a turnover of 227 million RON. ZF