Oil Terminal business up 12.4 pct in Q1

The turnover posted by Oil Terminal company based in the Black Sea port of Constanta went up 12.47 percent in the first quarter of this year from the same period a year ago, shows the financial information communicated by the Bucharest Stock Exchange on May 15.
Oil Terminal made 32.89 million lei in Q1 turnover.
The company’s net profit dwindled in Q1 compared to the first quarter of 2007 from 546,695 lei to 389,615 lei. The company made gross profit worth 476,298 lei in Q1.
Oil Terminal’s debts amount to 26.74 million lei, while claims total 17.637 million lei.
The company’s total revenues in Q1 amounted to 33.21 million lei, while overall spending stood at 32.73 million lei. The underwritten capital paid by Oil Terminal was 58.24 million lei.
The stock exchange capitalisation of the company dealing in services and equipment for the oil industry amounts to nearly 300 million lei.
The company’s shareholders are the State Assets Realization Authority (AVAS), which holds a 59.62 percent stake, Proprietatea Fund with 10 percent and Broadhurst Investments with 7.61 percent.
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