More traffic boosts Socep profits

Harbour operator Socep Constanta’s profit increased substantially in the first half of 2004 after having dwindled over the last three years. Socep benefited from the increase in harbour traffic in the first six months of this year, due to the positive development of the Romanian trade. Socep’s profit in the six months ending June 30, 2004 stood at 58.96bn ROL ($1.8 million), 39% higher in comparison to the same time of last year and nearly equal to its full-year target. Turnover went up 53% from 190.5bn ROL ($5.7 million) to 291.4bn ROL ($8.8 million). The growth of the company’s business was brought about by a very good period for Romanian exports, chiefly to locations in Asia, which saw strong economic growth this year. ZF