Romanian Titan Sees Lower Sales In FY 2012
Romanian milling and bakery company Titan (MPN.RO) estimates its sales will drop by roughly 5% to 331.6 million lei (EUR76.4 million) in the financial year to end in September, from RON348 million in the year-earlier period.
Titan expects a pretax profit of RON28.6 million at the end of September, the company said in a statement Friday.
In the fiscal year ended September 2011, Titan posted a net profit of RON8.2 million, fivefold higher on the year.
The company has a share capital of RON40.84 million split up into 408.48 million shares with a face value of RON0.1. Titan is majority owned by Austria’s LLI Euromils Vienna, with a 97.58% stake.
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