Steaua Romana refinery in the red in Q1

Steaua Romana in Campina recorded losses worth 406,334 RON in the first quarter of the year, after it posted profit worth 387,187 RON in the first three months of last year, while turnover went up 30% and reached 88.8 million RON (24.6 million euros). The company posted turnover worth 67.9 million RON in the first quarter of 2007. The refinery’s revenues climbed to 102.4 million RON in the period examined, up 22% against the 83.9 million RON seen in the previous year, according to company data sent to the RASDAQ market. The refinery posted net profit worth 3.2 million RON last year, 2.7 times higher than the 1.2 million-RON profit recorded in 2006. The company’s turnover increased 6.43% last year, from 336.4 million RON to 357.7 million RON, amid a 9.3% sales increase. The company’s revenues climbed to 374 million RON last year, 10% higher than the 340 million RON derived in 2006.