The profit of Electroaparataj, the only company listed on the Plus Tier of the Bucharest Stock Exchange, kept going down throughout the third quarter. Profit dropped 34% in real terms in the first three quarters compared with the corresponding period of last year. Net profit amounted to 30.8bn ROL ($0.94 million). Electroaparataj, like many other companies dealing in export, was hurt by the appreciation of the domestic currency against the USD (inflation outstripped depreciation). Exports account for about one third of the company's total sales. Its main domestic clients are Automobile Dacia, Sidex and Petrom. Another reason behind the poor results was the lower domestic demand for electrical equipment. Profits were pushed down by the slight decline (approximately 10%) of the nine-month turnover - 369bn ROL ($10.6 million), compared with 330bn ROL ($11.6 million) for the nine months ended September 30, 2001. ZF
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