Romanian insolventhydropower producer Hidroelectrica said on Monday it expects
to post a record-high profit of1.2billion lei ($333million/268 million
euro) this year on a turnover of 3.3 billion lei.
The company'sprofit
rose by 28% to1.07billion lei in the first 11 months of the year, while
turnover increased 12% to3.08 billion lei,Hidroelectrica said in a
statement.
In November alone, the company posted an all-time-high monthly
profitof 130 million lei, 66% up on the year.
The good results came on
the back of higher sales and strict cost-control measures, the company
said.
Hidroelectrica delivered 17.1 terrawatt-hours (TWh) of electricity
in the first 11months of the year, up 24% on the year.For the entire 2014, it
targets a production of 17.5 TWh.
State-controlled Hidroelectrica was
placed back under reorganisation procedure in February, after exiting insolvency
proceedings in June 2013. It was first declared insolvent in June 2012.