Aerostar Bacau doubles its gross profit

Aerostar Bacau Company, listed on the Bucharest Stock Exchange (BVB), reported a gross profit of 3.74 million lei (around 880 thousand euros) in the first half of 2010, twice as higher than during the similar period of time last year.

The net profit totalled 1.95 million lei as compared to 1.35 million lei in the first half of 2009. The net turnover climbed during the reference period by 14.6 percent, from 61.39 million lei to 70.35 million lei, with total revenues amounting to 84.13 million lei, marking a rise by 14 percent and with a total expenses figure of 80.39 million lei, going up by 12 percent.

Aerostar Bacau Company has a 57-year old tradition – on April 17, 1953, the Central Aviation Workshop was established as Aircraft Repair Factory. Aerostar is operating in its current organisational form since 1991. The main sector of activity is building and repairing aircraft and ships, while another traditional activity is to produce metal containers and gas cylinders. The services provided in the field of repair, maintenance and upgrading aircraft are aimed at both military defence and civil aviation sector.

The main client on the internal market is the Ministry of Defence, and the external beneficiaries category includes the large aviation companies, airlines, the ministries of defence in various countries, and so on. The Aerostar brand is also present on the military and civil markets in Europe, Asia, America and the Middle East.

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