Romanian gas transporter Transgaz sees 3% profit growth

Romanian gas transporter Transgaz Medias (TGN), one of the most profitable state-controlled companies, posted a 3% increase in revenues in the first nine months of this year, to EUR 281 million. This was due to an 8.9% increase in the quantity of gas transported. The higher revenues also reflected in the bottom line, as the net profit went up by 3%, to EUR 86.5 million. The net result was also higher by more than a quarter (27%) than the level estimated for the first three quarters in the company’s budget. Transgaz’ shares went up by more than 1% yesterday, after the results were released. The company’s market capitalization thus went over EUR 700 million. The state owns 58.5% of the shares, the remaining 41.5% being held by private investors. editor@romania-insider.com