Brief: Romanian Transgaz's H1 net profit down 12 pct y/y

Societatea Nationala de Transport Gaze Naturale Transgaz SA

16/08/2016 06:57

BUCHAREST, Aug 16 (Reuters) - Romanian state-owned gas 
pipeline operator Transgaz  ROTGN.BX   
    * Says its net profit fell 12.4 percent on the year to 281.8 
million lei ($70.88 million) in the first half. 
    * Says its turover fell 0.7 percent to 814.5 million lei. 
    * Says is on the verge of starting a multi-year gas 
infrastructure development programme meant to interconnect 
Romania to neighbouring states estimated to cost an overall 1.5 
billion euros. 
    * Says will aim to tap EU funds, loans from international 
lenders and will consider bond issues to partly finance the 
investments. 
    * However, of the investment plan for 2016 worth 721.9 
million lei, company has only met 5 percent of the plan in the 
first half due to legal delays. 
 
($1 = 3.9759 lei) 
 
 (Reporting by Luiza Ilie) 
 ((luiza.ilie@thomsonreuters.com; +4021 305 5262; Reuters 
Messaging: luiza.ilie.thomsonreuters.com@reuters.net)) 
 
Keywords: TRANSGAZ RESULTS/