Flamingo losses 12 times higher in Q1

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Flamingo International recorded 23.192 million lei in losses in the first half of 2009, higher by 12.3 times compared with the same interval a year before, according to information provided by the Bucharest Stock Exchange (BVB).

The company’s net turnover stood at 369.136 million lei, that is a slump by 23.47 percent against January-June 2008.
Revenues totaled 372.627 million lei (a drop by 23.6 percent compared with the first six month a year before), with expenditures standing at 395.812 million lei (minus 18.8 percent).

On June 30, Flamingo recorded debts worth 204.624 million lei and claims worth 169.041 million lei.

Flamingo International Group has been operating on the Romanian market since 1994, having as main object of activity the trade with information technology products and home appliances. Since 2005, Flamingo International is listed on the Bucharest Stock Exchange.

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