CHISINAU (Moldova), March 21 (SeeNews) – The net profit of Moldovan carpet maker Covoare-Ungheni jumped ten times to 10 million lei ($961,500/622,100 euo) last year, mainly due to the write-off of company debt, it said on Friday.
"Our profit grew so much, because our 6.0 million lei debt owed to government was cancelled. We also received 2.0 million lei in dividend from companies, in which we own stakes," a company official who declined to be named told SeeNews.
Following are figures from the company's 2007 financial statement filed with the Moldovan Securities Commission:
| (in millions of lei) | 2007 | 2006 |
| Net Profit | 10 | 1.1 |
| Net sales | 70.8 | 87.1 |
| Long-term assets | 91.3 | 107.7 |
Covoare-Ungheni had a 26.3 million lei share capital at the end of 2007. It is part of Moldovan holding company Acvila Grup, which comprises several carpet producers, an aluminium structures maker, glass and furniture producers.
(1 euro=16.0748 Moldovan lei)
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