Romanian Cocor Bucuresti turns to profit in first six months, while turnover down 35%

Cocor Bucuresti, which runs the Cocor shopping center in Bucharest, recorded a turnover of some EUR 1.4 million (RON 6.1 million) in the first six months of 2013, down some 35 percent compared to the same period last year, according to the company’s recent data. However, after recoding loss in the first half of 2012, the company posted a profit of EUR 164,000 (RON 721,000) in H1 2013, mainly due to the important decrease in operating expenses - down 52 percent. Cocor Bucuresti recorded total incomes of EUR 2.6 million (RON 11.7 million) in the first six months of 2013, a year-on-year decrease of some 29 percent. Located in the historical center of Bucharest, Cocor reopened to the public in October 2010, after some upgrading works with costs of EUR 24.5 million. Cocor Bucuresti’s shareholders are Ursan Liviu - with 14.8 percent of the shares, Stoica Daniel - 14.6 percent, investment fund Broadhurst Investments - 13.3 percent, SIF Transilvania - 10.2 percent and SIF Muntenia - 10 percent. Irina Popescu, irina.popescu@romania-insider.com