Romanian Vrancart Adjud 1H 2005 net profit falls 28.4% year-on-year
Aug 17, 2005. Romanian paper and cardboard producer Vrancart Adjud said on August 17, 2005 its net profit dropped by 28.4% year-on-year to 2.8 million new Romania lei ($970,000) in the first six months of 2005.
Aug 17, 2005. /Lesprom Network/. Romanian paper and cardboard producer Vrancart Adjud said on August 17, 2005 its net profit dropped by 28.4% year-on-year to 2.8 million new Romania lei ($970,000) in the first six months of 2005. The company's turnover fell to 25.5 million lei ($8.86 million). Revenue stood at 27.2 million lei ($9.4 million), while spending reached 23.9 million lei ($8.3 million).
Vrancart Adjud launched an initial public offering (IPO) on the Bucharest Stock Exchange in March 2005. The IPO was oversubscribed.
Vrancart Adjud held a 38% share of the toilet paper market in Romania and a share of 15-20% of the local market for corrugated cardboard at the end of 2004. Its main competitors on the Romanian market are Dunapack Sfantu-Gheorghe, Romcarton Bucharest and Ambro Suceava.