Paint and varnish producer Policolor Bucharest, reported a 25% turnover growth to approximately 17 million euros (61 million RON) and 43.8% higher net income to 1.3 million euros (4,56 million RON) in H1, according to the company's financial report. In the first six months of last year the company posted turnover worth 13.5 million euros (48.7 million RON), and net income standing at 0.8 million euros (3.17 million RON). In this year's H1, Policolor's total revenues increased from 50.2 million RON to 58.3 million RON, while its expenses rose by 13%, to 52.9 million RON. In 2005 Policolor registered net income worth 14.2 million RON and 108 million-RON turnover. This year the company has budgeted turnover worth 109.4 million RON, 1.3 million RON higher than last year's, and investments amounting to 5.4 million RON. The company is controlled by three investment funds, jointly owning more than 82% in it. The three funds are Romanian Investment Fund Cyprus, with a 39.4% stake, Romanian-American Enterprise Fund (RAEF), with 33.3% and Romanian Reconstruction Cyprus, with around 10%.
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