Romania Transelectrica Sees 2011 Gross Profit at $7.5 Million

Romania’s Transelectrica SA (TEL) plans to seek shareholders’ approval to lower an estimate for this year’s gross profit to 25 million lei ($7.5 million), from a previous estimate of 42 million lei, the company said in a filing to the Bucharest Stock Exchange.

The country’s power-grid operator said it estimates its total revenue at 2.78 billion lei this year and expenses at 2.76 billion lei, according to the statement.

Transelectrica’s shareholders are scheduled to vote on the proposal on Jan. 19.

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net.

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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