(story to be published in tomorrow's issue, April 3)
Net profit registered by MP Iris Barlad bakery products factory in 1999 was only 135 million lei and the company's shareholders during the General Assembly on March 23 decided they would not grant dividends on this period of time, the company shows in a release. Financial results of last year will be entirely aimed at the company's reserves fund (5.75 million lei) and financing fund (128.25 million lei), according to the same sources. Profit registered on 1999 practically represents only half of the profit posted in 1998, when the company granted a net dividend of 110 lei/share. The same assembly also approved the Revenues and Expenditures Budget for this year, the company's officials estimating a relative recovery of the economic situation by posting a net profit amounting to 205 million lei. For 2000, the management of MP Iris Barlad estimates total revenues standing at 105.5 billion lei and total expenses amounting to 105.25 billion lei. MP Iris Barlad has a share capital of 5.25 billion lei, divided into shares with a nominal value of 1,000 lei. Significant shareholders of the company include Mondial Tranzit with a stake of 49.62 percent of the shares, Broadhurst Investments Ltd and Broadhurst Investments Romania, with a cumulated stake of 5.08 percent, the rest of shares belonging to small investors. The company operates in the field of food industry and is specialised on the production of bakery products. MP Iris Barlad shares have been traded on the second tier of the Bucharest Stock Exchange since January 20, 1998 the reference price registered over the last trading session on October 1, 1999, being 630 lei/share.
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