Salrom’s profit down by 12 pct in H1

Newsroom 26/08/2016 | 12:58

The National Company of Salt (Salrom), controlled by the Economy Ministry with 51 percent of the shares, closed the first semester of the year with a net profit of RON 25.96 million, down 12 percent compared to the one registered in the same period of the last year. In July, the company contested in the court a decision of tax administration agency ANAF from February, through which the agency requested Salrom to cover over RON 50 million in unpaid royalties.

The gross profit of the company decreased by 5.5 percent to RON 35.27 million, but Salrom paid a profit tax bigger than in January-June 2015, with over 26 percent, respectively RON 7.38 million, compared with RON 5.84 million in the first half of the last year. Salrom’s turnover dropped by 10.5 percent to RON 127.42 million.

The total revenues of Salrom decreased by over 5 percent (more than RON 8 million) in the first six months of the year, from RON 155.44 million to 147.43 million, while the expenses dropped by a similar percent (by over RON 6 million) from RON 120.16 million to RON 114.08 million.

Currently Salrom has a legal case in court against ANAF after the financial institution made a control within the company last year and imposed additional payment liabilities of RON 30.69 million for the 2010-2013 period, adding to fines and delays penalties of around RON 50.1 million.

In the first stage Salrom contested the decision at the Court from District 1 of Bucharest in January, but the litigation was rejected. Then the company asked the Court of Appeal from Bucharest the annulment of the decision, but it the trial date hasn’t been established it.