SIF Muntenia makes 6.7 million-euro profit

The gross profit of SIF Muntenia rose by 6.7 million euros (23.7 million RON) last month, and accounted for about one third of the profit the financial investment company made in the five months before, according to its filings with the Bucharest Stock Exchange. The profit SIF Muntenia posted in June comes after the company sold Erste Bank and Rompetrol SA (Vega) shares worth a total of 6.3 million euros (22.8 million RON) in May. SIF Muntenia sold 33,300 Erste Bank shares for 174 RON/share at the beginning of May, after it bought shares in this bank at 140 RON in March. The profit estimated in this case stands at 1.2 million RON (0.34 million euros). SIF Muntenia also sold 4.6% in Rompetrol SA for 17 million RON (4.68 million euros) during the same period. Six months into the year, SIF Muntenia’s gross profit reached 17.7 million euros (63.4 million RON). Assets witnessed the fastest increase in June, 4.1% and reached 548.2 million euros (1,962 million RON).