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Transgaz reports net profit up 18 pct for first semester

National gas pipeline operator Transgaz recorded a net profit of 231 million lei in the first half of this year, an increase of 18 pct compared to the result in the same period last year, according to the report submitted to the Bucharest Stock Exchange on Thursday. (1 euro = 4.84 lei)
The net revenue is 139 pct higher than planned in the revenue and expenditure budget.
At the same time, the company’s turnover decreased by 10 pct compared to last year, to 851 million lei.
Operating revenues reached 759 million lei, down 2.1 pct, while expenses were 517 million lei, down 7.7 pct.
Investment doubled during the reporting period to 753 million lei.
Transgaz has the status of a monopoly in the transport of natural gas in Romania and conveys about 90 pct of the total natural gas consumed.
The Romanian state holds 58.5 pct of the Transgaz shares through the General Secretariat of the Government, while the remaining 41.5 pct are traded on the stock market.

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