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October 23, 2021

FP profit down 37.5 pc

Fondul Proprietatea (FP) posted a net profit of RON 456.2 M for 2010, smaller by 37.5 per cent compared to 2009, but over twice bigger than estimated, Mediafax reports. FP’s 2010 estimated profit was RON 194.93 M and in 2009 registered net profit of RON 730.1 M. The 2010 Fund’s revenue from shares was higher by 51.43 per cent, standing at RON 179 M and smaller by 7.7 per cent from interest, standing at RON 131.5 M. The organization preserved its portfolio in 2010 and sold no more shares. In 20909, FP sold its shares in CEZ Distributie and CEZ Vanzare to CEZ for a total of RON 229.5 M. The reduction of profit also led to a smaller corporate profit tax. The profit tax paid by FP in 2010 was RON 11.2 M (EUR 2.6 M), over nine times smaller than the one paid for the profit made in 2009 which was RON 104.1 M. In addition, the company could pay gross dividends of RON 0.0156/share from last year’s profit, over five times smaller than the dividends distributed last year for net profits made in 2008 and 2009 – RON 0.0816/share.

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