Transgaz posted an 18% increase in net profit in the first half of the year

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Transgaz, the national gas carrier, registered in the first half of this year a net profit of 231 million lei, up 18% compared to the result from the same period last year, according to the report sent to the Bucharest Stock Exchange on Thursday.

The net result is 139% higher than the one programmed in the revenue and expenditure budget.

At the same time, the turnover decreased by 10% compared to last year, to 851 million lei.

Operating revenues reached 759 million lei, down 2.1%, while expenses were 517 million lei, lower by 7.7%, according to Agerpres.

Investments doubled during the analyzed period, up to 753 million lei.

Transgaz has the status of monopoly in the transport of natural gas in Romania and transports about 90% of the total natural gas consumed.

The Romanian state owns 58.5% of Transgaz shares, through the General Secretariat of the Government and the remaining 41.5% are traded on the stock exchange.

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