Astra Ploiesti Refinery will not be paying dividends this year, which is a first time since its 1998 floatation, as 2002 was a very bad year for its financial results. Turnover plunged to half the 2001 level, reaching 3,122bn ROL, while net profit lost more than 90%, down to 3bn ROL The company had posted 34bn ROL in net profit in 2001, and paid 20 ROL/share in dividends to its shareholders. Its 2003 plans include 185% increase in gross profit, which should therefore reach 17.5bn ROL, given that the refinery's revenues are also expected to go up by 16% in nominal terms and exceed 4,000bn ROL. Astra was announcing a halt in production last year, due to a Government Ordinance on excises and compensations. It later went through a restructuring programme and laid off about 600 employees, so that it came to employ only 1,230 people at the end of last year. ZF
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
