Mamaia reports 40% fall in profit

Mamaia, a tourist services and real estate leasing provider, posted a 1.54 million-RON net profit last year, down 40% against the results seen in 2005, amid a 24.4% turnover decline, to 8.39 million RON (some 2.4 million euros). The turnover posted by the company as a result of tourist services, stood at 1.83 million RON, while its real estate leasing activities brought it a 6.05 million-RON turnover, according to a company report sent to the RASDAQ. The share of revenues generated from tourist services in the total turnover increased to 21.83% last year, from 13.75% in 2005. The company has a 10.5 million-RON capital, and its majority shareholder being the Ministry of Transportation, Constructions and Tourism, which controls 96.5% of the shares. Mamaia holds stakes in Dracula Park, Telegondola – Mamaia and Turism & Agrement.