COMPANIES ECONOMY

IAR Brasov reports record profit in H1

IAR Brasov has registered a profit of RON 31.7 M in the first half of this year, 19 times higher year-on-year (RON 1.6 M in H1 of 2014), the company informs on its official website. The helicopter manufacturer’s activity growth was supported by the high volume of orders and by the dividends obtained following its local partnership with Europe’s Airbus.

Operational revenues stood at RON 52.34 M in H1 this year, compared to RON 34.86 M in the same period last year. Operational expenses stood at RON 33.92 M, compared to RON 33.58 M in the same period last year.

The report also points out that the dividends related to the 2014 fiscal year stood at 2,922,372, representing 51.15 per cent of the net profit. The dividends related to the 2014 fiscal year have a gross value of RON 0.1547 per share and the date of the payment was 6 July 2015. The shareholders entitled to receive dividends for 2014 are those that registered within the shareholders’ registry by June 15 this year.

IAR Brasov, the state-owned aircraft maintenance and repairs company, was floated on the Bucharest Stock Exchange’s (BVB) main market in mid-July, after it transferred from the Rasdaq market.

The transfer was approved by IAR shareholders in February this year, and in early July the company obtained the approval of the BVB Board.

Over 72 per cent of IAR Brasov shares are owned by the Romanian state (Economy, Commerce and Tourism Ministry – 64 per cent; Labour Ministry – 7.3 per cent), while the remaining 28 per cent are owned by investors.

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