The cumulated profits of 63 of 69 companies listed on theBucharest Stock Exchange halved in 2009, the worst year for theRomanian economy in the last decade. Still, revenues and turnoversof companies did quite well, going down by merely 13% overall to41.2 billion RON (9.7 billion euros), compared with the 7.2% GDPplunge.
Listed companies cut their losses ten times in the last quarter,and those in the industry showed signs of a rebound, posting risingturnover. Cumulated revenues and turnover derived by 63 companieslisted on the Stock Exchange fell by 28% in the last three monthsof 2009 against 2008, to 13.5bn RON (3.17bn euros), amid a 6.6%economic decline. However, the overall losses of BSE listedcompanies went down ten times in the fourth quarter, to 66.7m RON(15.6m euros), in the wake of a more stable exchange rate andexpense cutting steps taken by managers. Almost one third of thesurveyed 63 companies cut their losses in the fourth quarter, and13 of them managed to return to profit. "Listed companies' figureswill be ever more surprising starting the first quarter, andattention will focus on companies with cyclical activity. In termsof Stock Exchange investments, in this phase of the stock marketcycle, at least theoretically, the fields recommended forinvestments are tourism, oil/gas and real estate (...)," saysAndreea Gheorghe, head of the research department of IntercapitalInvest brokerage.
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