Mefin, higher profits, shrinking sales

Engine parts producer Mefin Sinaia in the first six months of this year derived net profit of 26.3 billion ROL (650,000 euros), over three times higher in ROL than the profit logged in the similar period of last year. In euros, the increase was of about 176%. Turnover in the first half was, however, lower than in the corresponding period of last year. Thus, sales reached 171.7 billion ROL (4.2 million euros), 21% lower in ROL as compared to the 215.4 billion ROL (5.8 million euro) sales in the same period of last year. Both sold production and revenue derived from the sold products were lower. Instead, other operational revenues posted significant growth, being ten times higher in ROL and standing at 18.6 billion ROL (460,000 euros). ZF