Targu-Mures-based Foraj Sonde, operating in petroleum and natural gas extraction, witnessed a decline in business by 2.7% to 82.26 million RON last year. The gross profit also fell by 32.1% to 6.72 million RON (1.9 million euros), according to the annual results announced by the company on Monday. Last year the company's revenues rose by 4.4% to 92.12 million RON. Expenses also rose by 9.12% to 85.4 million RON. The company posted a net profit of 6.28 million RON, which will be transferred into a non-distributed profit account. In 2005, the company saw a turnover of 84.56 million-RON, along with a gross profit of 9.9 million RON. The company was formed in 1994 in the wake of a reorganisation of subsidiaries of the former state-owned natural gas regie autonome Romgaz Medias. Currently, the company is privately owned, with its capital standing at 1.3 million RON. Foraj Sonde's main shareholder is Vasile Aron, who holds 84% of the total shares.
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