Impact's profit exceeds budget by 45%
12.05.08 (Business Standard)
Real estate developer and contractor Impact Bucureşti obtained, during the first three months of the year, a gross profit of RON 8.5 million (EUR 2.3 million), 45% more than the forecast level, according to the data calculated according to the international financial reporting standards (IFRS).
Impact presents the data according to the international accountancy standards as well as according to the local ones, as the IFRS reporting allows it to register the revenue based on execution stages, and not only at the completion moment.
According to the local accountancy standards, Impact reported a profit of RON 5.1 million (EUR 1.4 million), an increase of 135% compared to the profit made during the same period last year. Company representatives explained this year's significant profit increase by the double value of the execution works obtained during the first quarter, up to RON 33.2 million (EUR 9.2 million).
"The growing results are due, on one hand, to the fact that the volume of works completed was higher compared to the same period last year, and, on the other hand, to the fact that the contracts signed were, in their turn, higher than we anticipated. The results were also helped by the fact that February and March were pretty good for constructions, unlike the situation registered last year", Carmen Săndulescu, Impact's economic manager, declared.
During this period, the sales value of the contracts signed increased with 33%, reaching EUR 13 million.
catalln.ciocan@stdnddid.ro
