SIF Oltenia has only 2m euros left in its accounts

SIF Oltenia (SIF5), one of the leading companies on the Bucharest Stock Exchange, closed the year with liquidity worth 8 million RON (around 2 million euros), while the company recorded a net profit worth 86.8 million RON (23.6 million euros), according to the reports sent to the Bucharest Stock Exchange.
In comparison, at the end of 2007, SIF Oltenia had 40.7 million RON (11.3 million euros) in its accounts, while its profit amounted to 108 million RON (32.3 million euros). The liquidity decline translates in a reduction in the company’s resources for Stock Exchange investments and for contributing to capital increases carried out by companies in its portfolio, and could have a negative impact on dividends distributed this year, considering that Stock Exchange prices do not encourage the sale of stakes in the company’s portfolio, and that some of the leading companies that the SIF (financial investment company) has stakes in, could, in turn, reduce their dividends.