Romanian gas transporter Transgaz sees 85% increase in profit in first quarter

Romanian state-owned gas transporter Transgaz Medias recorded a net profit of EUR 70.3 million in the first quarter of this year, up 86% over the same period last year. Operating revenues amounted to EUR 140.3 million between January and March, up 37% compared to the first three months of 2016. The operating expenses reached EUR 58.6 million during this period, up 2% year-on-year. The company carried out investments of about EUR 2.8 million in the first three months of the year and paid EUR 48.8 million to the state budget during this period. Transgaz Medias plans to distribute 90% of its 2016 net profit as dividends. The proposed gross dividend per share is RON 46.3 (EUR 10.1). editor@romania-insider.com