Socep profit, down again

Profits of Socep Constanta harbour operator have followed the same downward trend for the second year in a row, amid shrinking traffic in Constanta harbour and tighter competition. Thus, Socep reported net profit worth 42.27 billion ROL in H1, down 24% as compared to the same period of the previous year. The company’s turnover was almost constant in nominal terms, but registered a slight decline in dollars, from $5.98m in H1, 2002, to 5.8 million dollars. The main indicators in real terms also dropped, despite the slight increase in Socep’s harbour traffic volume, from 1.10 million tonnes to 1.14 million tonnes. Capital market analysts deem the profit drop as normal, considering the gain margins registered during the previous years were very high. ZF