Rompetrol Rafinareĺs first-quarter loss narrows

Rompetrol Rafinare (ticker: RRC) narrowed its Q109 loss of 291 million lei to 224 million lei (€54.4 million), according to a filing to Bucharest Stock Exchange.
The company’s turnover rose 20% to 1.71 billion lei while revenues increased by 1.78 billion lei, according to Romanian Accounting Standards.

Expenses climbed 7% to 2.01 billion lei from the same period of last year.

According to International Financial Reporting Standards, the company’s loss came in at $57.32 million.

Rompetrol Rafinare has a share capital of 2.1 billion lei, divided into 21.09 billion shares at a face value of 0.1 lei. The majority shareholder is Rompetrol Group held by KazMunaiGaz with 98.63% interest.

The company’s market value is 1.47 billion lei (€0.35 billion), according to the latest stock quote of 0.7 lei/share.

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