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Comvex expects profits to double

18.04.2005, 18:43 7

Harbour operator Comvex Constanta estimates to post net profit of 3.7 million euros (at the average exchange rate of 37,093 ROL/EUR in Q1) by yearend, more than twice higher than in 2004. At the same time, the company''s management projects total revenues of 15.9 million euros, up 44% on last year. Comvex officials also told Ziarul Financiar that most of the 58.9bn ROL (1.4 million euro) net profit of last year, 56bn ROL, will be disbursed as dividends to shareholders. Under the circumstances, the gross dividend will be of around 12,600 ROL/share. "The better results we anticipate for this year are due to the fact that we managed to reduce our costs significantly, gained new clients and at the same time operated a certain increase in tariffs," explained Viorel Panait, Comvex''s general manager. The harbour operator has successfully concluded contracts with new clients from the Central and Eastern Europe and especially with companies in the steel business. ZF

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