Abo Mix in Satu Mare slips into the red

Abo Mix, based in Satu Mare, ended the first quarter of the year with losses worth 1.1 million RON (306,000 euros) compared with the 940,000-RON profit seen in the same period of last year, after revenues saw a steeper decline against expense cuts. In the first three months of the year, overall revenues fell 23.27%, from 28.4 million RON to 21.8 million RON (5.9 million euros). The company's turnover fell 39% in Q1, to 16.6 million RON (4.5 million euros), against 23 million RON in the first quarter of 2007. According to its latest reports, Satu Mare-based Cereale holds 65.95% of the shares, while Abo Mix holds 19.33% of its own shares, and the State Assets Resolution Authority (AVAS) - 1.02%.