Romanian gas company Transgaz reports net profit down 4% in first half

Romanian national gas transport company Transgaz reported a net profit down 4 percent in the first half of 2011, to EUR 61 million (RON 255 million), while the company’s turnover increased by 3 percent to EUR 170 million (RON 712 million). The gas transport company had total revenues of around EUR 182 million (RON 764 million) in the first six month of this year, up 4.85 percent compared to the same period in 2010, and total expenses rose by 10.88 percent to EUR 110 million (RON 458.9 million). The total expenses reported in this period were higher due to the depreciation of fixed assets put into service after the beginning of June last year, and increase salaries linked to productivity growth, according to the company. Irina Popescu, irina.popescu@romania-insider.com