Roman Brasov, $5.8m losses

Truckmaker Roman SA Brasov will revise its loss estimates for this year upwards, so that it will expect to post 217.9bn ROL (some $5.8 million) instead of the previous 162.5bn ROL and specify it in the adjusted S&R budget. “The first version of the 2003 budget was based on indicators set last year. Following the filing of last year’s financial statement and the situation in the first half, the company management suggested revising the main economic-financial indicators,” economic manager Ion Pavel said. The 2003 budget adjustment will be discussed by the shareholders of the company on July 21. The initial budget for this year targeted 1,250bn ROL in total revenues, while expenses were supposed to reach 1412.5bn ROL. The adjustment will see a 198bn ROL cut in revenues and a 142.6bn ROL cut in spending. Roman Brasov logged 699.4bn ROL losses last year, 204.8bn ROL higher than in 2001. Total net revenues of the company amounted to 1,241.3bn ROL, compared with 1,324.3bn ROL. ZF