Boromir Prod FY 2012 IFRS results
The miller and baker Boromir Prod (SPCU) has reported its FY 2012 results under IFRS for the first time, thus we will comment only on annual figures. Total sales for the year amounted to RON 114 mn, down 23% yoy, while during the first nine months of the year, RAS sales were down 25% yoy. Despite some cost cuttings, raw materials expenses down 32% yoy to RON 45 mn and labour costs contracting 17% yoy to RON 16.6 mn, EBITDA margin contracted to 3.6% from 4.1% in 2011. But, operating loss for the year remained almost flat at RON 1 mn. Bottom line sank further into red at RON 1.4 mn, compared to a net loss of RON 0.4 mn a year ago.
Remedia to pay a 2012 DPS of RON 0.02 despite higher net profit
Pharmaceutical chain Remedia (RMAH) announced that due to certain accounting treatments, its FY 2012 net profit was revised to RON 5.5 mn, up from RON 4.1 mn. The company said that it would pay the same dividend as initial proposed, RON 0.02 per share, thus lowering the pay-out ratio from 51% to 38%.
