Mopan boosts sales, posts losses

Milling and bakery company Mopan Targu Mures logged 6.4bn ROL ($0.2 million) loss in H1, even though it had managed to boost sales 3.5 times compared with the corresponding period of last year. Mopan’s H1 sales amounted to 144bn ROL ($4.4 million), compared to 32bn ROL in the same time last year. The company was boasting 0.5bn ROL profit back then, though. Mopan first posted losses in the second half of 2002, so that full-year financials were negative, highlighting an about two billion ROL loss. The company management was saying last year that the poor results were due to the installation of a new higher capacity mill, which required halting production throughout March-October. This year’s results match those anticipated in the S&R budget only when it comes to sales. The full-year turnover estimated in the budget is 360bn ROL, and there is also a 43.4bn ROL net profit anticipated. ZF