Romanian Post reports EUR 9.4mn losses in H1.

By bne IntelliNews December 8, 2009
The Romanian Post (CNPR) reported RON 40mn (EUR 9.4mn) losses in H1/2009, mainly on the back of increasing operating expenses derived from the contracts inked in the second half of last year, Business Standard daily informs, quoting statements of company officials. For comparison, CNPR reported RON 79mn gross profit in H1/2008. This is the first negative performance of the company since 1992. The company will undertake a restructuring programme meant to bring performance back in the positive area by 2013. The activity of the company will be extended, while costs will be cut down, CNPR representatives said. Currently, the Romanian state holds 75% stake in CNPR, while Property Fund holds the remaining 25% stake.

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