Uzinexport profit down 88%

Uzinexport, a company whose share capital reaches 14bn ROL logged 32.4bn ROL (about one million dollars) profit in the first half this year. The profit is much lower than in the same time last year, though, having dropped 88%. The company had posted 247bn ROL profit in the first six months of 2002. Uzinexport specialises in transactions related to complex industrial projects. The three fields in which it specialises are cement plants and other components of the construction supplies industry, metallurgical industry, as well as shipyards and shipbuilding. The projects it has run in the last few years include beneficiaries from Germany, Croatia, Egypt, Syria and Iran. The main difference between last yeari’s first half profit and this yeari’s was the slump in financial revenues, i.e. in those derived from foreign exchange rate differences for the companyi’s exports to be precise. ZF