Romanian gas transmission company Transgaz said on Friday its net profit rose 52% on the year to a preliminary
507.4 million lei($130.8million/114.4million euro) in2014,as revenue grew
and expenditures fell.
Total income grew 9% on the year,mainly due to
anincreaseinthecapacity booking tariff, while costs fell 4%, Transgaz said
in its preliminary financial report for 2014.
Commenting on the figures,
Raiffeisen Bank said in a note to investors it rates the news as positive,
sincethe results were above estimates. "It is a positive surprise, especially
the low grid losses costs."
The bank also said it will keep its 'buy'
rating on Transgaz.