Oil Terminal reports 7.5 times higher profit in Q1


Oil Terminal reports net profit worth 2.93 million lei (some 0.69 million euros) in Q1 of 2009, up over 7.5 ties as against the same period of the previous year, according to an announcement made by the company.

The net turnover reached 33.13 million lei (some 7.790 million euros) in Q1 of 2009, as against 32.89 million lei in the first months of 2008.
The Economy Ministry estimates gross profit worth 1.725 million lei (some 0.405 million euros) for Oil Terminal in 2009 and net profit worth 1.463 million lei, up 30 percent over 2008.

According to a government’s draft decision on budgets in 2009 of companies subordinated to the Economy Ministry, launched for public debate, overall revenues for 2009 of Oil Terminal company amount to 114.465 million lei, whereas the expenditures total 112.74 million lei.

Oil Terminal is one of the biggest terminals of South-Eastern Europe, established in 1898 as Steaua Romana and it had several named until 1990,
In 1990, according to law 31/1990, through the Romanian Government’s decision no 1200/November 12, Oil Terminal stock company Constanta was established, running on majority state capital.

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