Romanian Transgaz’s profit down 44% in first half of the year

Romanian gas transmission company Transgaz recorded a profit of some EUR 29 million (RON 130.1 million) in the first half of 2013, down 44 percent compared to the same period last year. However, the company’s turnover went up almost 3 percent in the first six months of the year over the first half of 2012, to EUR 168 million (RON 739 million). Transgaz’s revenues slightly increased to some EUR 175 million (RON 769 million) in the first half of the year, while the company’s expenses went up 20.4 percent, to around EUR 132 million (RON 582 million), according to the company. The Romanian state holds 58.5 percent in Transgaz’s share package, through the Ministry of Finance, while Fondul Proprietatea has 14.9 percent. Earlier this year, the Romanian state sold the 15 percent share package in Transgaz, for EUR 72 million, during a secondary public offering. Irina Popescu, irina.popescu@romania-insider.com (photo source: Sxc.hu)