MJ Maillis sells more, gains less

Packaging producer MJ Maillis Romania logged 4.2bn ROL (106,000 euro) net profit in Q1 this year, 7% lower than in the corresponding period last year. The Q1 turnover was 27% higher, reaching 94.4bn ROL (2.3 million euros). The company representatives explained the higher turnover was due to increases in sales, while the decline in net profit was caused by the slight depreciation of the ROL against the single European currency. Exchange rate differences were also to blame for the 7.3% drop in net profit Maillis experienced in 2003 compared with the previous year. Maillis Romania logged 17.7bn ROL (0.4 million euro) net profit last year, lower than in 2002, though turnover increased 45% to 350.5bn ROL (8.7 million euros). ZF