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Romania's Romgaz Q3 net profit surges above forecast
November 12, 2014 / 5:27 PM / 3 years ago

Romania's Romgaz Q3 net profit surges above forecast

BUCHAREST, Nov 12 (Reuters) - Romanian state-controlled natural gas producer Romgaz SA recorded a net profit of 243.04 million lei ($68.33 million) in the third quarter, 39.3 percent up on the year, with revenues boosted by gas price deregulation.

The company recorded a net profit of 174.5 million lei in the same period of 2013. A Reuters poll of six banks and brokerages expected Romgaz to post a net of 234 million lei.

Romgaz, listed on the Bucharest bourse and in London, has a market capitalisation of around $3.7 billion. It is the country’s largest underground gas storage operator and its businesses include gas exploration and electricity production.

$1 = 3.5567 Romanian lei Reporting by Luiza Ilie

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