Romlux turnover down 38%

Light bulb manufacturer Romlux Targoviste achieved turnover of 8.2 million RON (2.26 million euros), down 38% from the corresponding period of last year. The net income of the company fell to almost zero for the first three quarters, after having reached 72,000 euros in the first half. Financial results are better than in the first three quarters of 2004, with the light bulb producer having posted more than 1.45 million RON (360,000 euro) losses during that period. “The losses in the third quarter were mainly due to the summer period, when lighting equipment sales go down, and to the fact that the contract with a customer from the UK was not filled as we had hoped. This contract stipulated the delivery of 6 million normal and special light bulbs, worth over 250,000 pounds sterling (some 1.35 million RON), of which the customer only bought one quarter. The running of this contract will speed up during winter,” Vasile Horga, Romlux”s general manager. ZF