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SIF Banat-Crisana, 18.4m-euro profit in May

20.06.2006, 21:01 6

SIF Banat-Crisana posted a profit worth 18.4 million euros (64.6 million RON) in May, almost a nine-fold increase compared to profit in the first four months of the year. As a result, the profit of SIF Banat-Crisana for the first five months stood at 20.4 million euros (72.3 million RON). SIF Banat-Crisana exceeded its budgeted profit for this year, of some 16.2 million euros (57.1 million RON) by 26%. The spectacular upsurge of profit witnessed in May is primarily due to the SIF selling its stake in the pipes manufacturer Zilcotub Zalau, for which it collected almost 7 million euros (24.5 million RON). Some of the SIFs also registered the dividends they are to collect from banks under the profit for May, the largest of which are dividends from BCR and BRD. SIF Oltenia ranked second in terms of profit in May, with 10.8 million euros (38 million RON).

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