Oil Terminal: profit target stands firm

Oil Terminal Constanta, the biggest local harbour operator, posted a 0.18 million-euro (0.64 million-RON) net profit in the first nine months of the year, a 95% decline against the 3.45 million euros (12.45 million RON) in the same time last year. Oil Terminal’s profit is some 27% higher than that at the end of the first six months of the year. Even though the company is far from achieving its 3 million-RON target for this year’s gross profit following the budget adjustment approved at the beginning of October, the management of the harbour operator says the estimated profit will be “roughly” achieved. The initial estimate for the gross profit stood at 1.6 million euros. “We will roughly achieve our gross profit target. We may be slightly above or below that level,” stated Mihai Lupu, Oil Terminal’s general manager.