Transgaz: lower profit, more employees

Societatea Nationala de Transport Gaze Naturale Transgaz Medias, saw a net profit standing at 138.4 million RON (38.4 million euros) at the end of last year, a 23% drop against the same period of last year. According to preliminary results released by the company, last year”s turnover stands at around 770.1 million RON (214 million euros), a slight drop against the 772.27 million RON (190 million euros) reported in 2004. During the same period, personnel grew by 81 people to 4,755 employees. Transgaz anticipates a turnover of over 827 million RON (231 million euros) for 2006 and a gross profit of 121 million RON (33 million euros). The company will allocate over 223 million RON (62 million euros) to a programme to modernise and expand the National Transport System. Eighty percent of the investment programme will be used to develop the system and the necessary equipment, more precisely for building new pipelines for the transport of natural gases. ZF