Sinteza back in the black

Chemical plant Sinteza Oradea ended the first half this year with 6.3bn ROL (150,000 euros) profit after having logged 880 million ROL (22,000 euro) losses at the end of the first quarter. Sinteza made 1.8 million-euro turnover in this six-month period, down 5% from sales in the first half last year. Expenses in real terms were 5% lower (1.7 million euros), while revenues stood at 1.9 million euros at the end of June, up 5% compared with the first six months of 2003. 99% of revenues were derived from operations. Last year Sinteza logged 6.6bn ROL (184,000 euros) net profit, down 23% in ROL compared with 2002. Total revenues rose 19% to 162.5bn ROL (4.5 million euros). Sinteza Oradea makes pesticides, along with a number of paints and enamels, pharmaceuticals, metallic and paper packaging and complete painting systems. ZF