Private university Spiru Haret, which has 300,000 studentsenrolled, posted a 48% profit margin in 2008. Spiru Haret, thelargest university on the Romanian market, which has recently beeninvolved in the biggest scandal seen by the Romanian educationsystem in the last few years, reported a 178 million-RON (48.5million-euro) surplus and 373 million RON (101.5 million euros) inrevenues, according to data from the website of the FinanceMinistry. Last year, revenues of the private university climbed 50%against the 2007 financial year, while the surplus reported by theprivate university rose by almost 60%. The surplus amounts to thedifference between revenues and costs, and can be assimilated tocompanies' profit. The university's expenses amounted to 53 millioneuros, which means Spiru was left with 48.5 million euros in itsaccount at the end of the year. This makes Gheorghe Bondrea,chairman and rector of Spiru Haret University, the most profitablemanager in Romania, considering no private company posted similarlyhigh profit margins last year.
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