Cocor posts 2.6m-euro net profit

Cocor, the company that owns the shopping complex operating under the same name in Bucharest, posted 2.6 million euro (9.6 million RON) net profit in the first nine months of the year, nearly three times higher compared with the profit made in the same time last year. The increase in profits came especially because of the increase in the financial revenues of the company, which amounted to 1.77 million euros (6.4 million RON) at the end of September. Cocor made nearly 1.7 million euros (over 6 million RON) profit from its financial operations alone. Cocor”s turnover, however, was down compared with January-September 2004, with the company posting 2.37 million euro (8.6 million RON) turnover this year, down 1% in euros and 12% in RON. Cocor owns stake in several SIFs, as well as in other companies listed on the Bucharest Stock Exchange. It also holds significant interests in companies like Comturist, Neoset and Euxin Exchange. ZF