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Abo Mix in Satu Mare slips into the red

18.06.2008, 19:14 15

Abo Mix, based in Satu Mare, ended the first quarter of the year with losses worth 1.1 million RON (306,000 euros) compared with the 940,000-RON profit seen in the same period of last year, after revenues saw a steeper decline against expense cuts. In the first three months of the year, overall revenues fell 23.27%, from 28.4 million RON to 21.8 million RON (5.9 million euros). The company's turnover fell 39% in Q1, to 16.6 million RON (4.5 million euros), against 23 million RON in the first quarter of 2007. According to its latest reports, Satu Mare-based Cereale holds 65.95% of the shares, while Abo Mix holds 19.33% of its own shares, and the State Assets Resolution Authority (AVAS) - 1.02%.

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