Otelinox profit down 40%

Laminated steel products maker Otelinox Targoviste last year posted 191bn ROL ($5.8 million) in net profit, down 40% in real terms from the previous year, when it had made 280bn ROL ($9.6 million). Turnover went up 8% last year, reaching 992bn ROL ($30 million). Otelinox is listed on the first tier of the Bucharest Stock Exchange. The company increased its share capital early this year, when it issued new shares sold for 145,000 ROL (25,000 ROL of which account for the face value and 120,000 ROL for the issue premium). The quotes have been fluctuating around 80,000 ROL lately, so that the investors looking to buy Otelinox shares could get them cheaper on the Stock Exchange. The only shareholder to have subscribed for the capital increase was Samsung Deutschland, which came to hold 69.3% in Otelinox instead of the previous 64.7%. The company raised 202bn ROL ($6 million) this way, with the share capital increased to 266bn ROL from 231bn ROL. ZF