November 14 (SeeNews) - Romanian real estate company Impact Developer & Contractor said on Wednesday it doubled its net profit to 14.9 million lei ($6.4 million/4.3 million euro) in the first nine months of 2007, from 7.04 million lei a year earlier.
“The positive results in the third quarter were due to the sales contracts signed in the first nine months of 2007, whose value is 3.05 times higher than a year ago,” the company said in a statement.
The value of the contracts the company signed in the first nine months of the year exceeded 30 million euro ($44.1 million).
Following are figures from Impact's income statement, sent to Bucharest Stock Exchange (BVB), where the company is listed (in millions of lei):
|
|
9-mo'07 |
9-mo'06 |
| NET PROFIT |
14.9 |
7.04 |
| PRE-TAX PROFIT |
18.7 |
9.07 |
| TURNOVER |
69.8 |
89.78 |
| TOTAL REVENUE |
n/a |
89.38 |
| TOTAL COSTS |
n/a |
80.31 |
Impact Developer & Contractor stock lost 0.53% on Wednesday to close at 0.93 lei per share. The company announced its financial results after the end of the trading session.
Impact Developer & Contractor (www.impactsa.ro) was set up in 1991 and is one of Romania's top private real estate developers. In September, a subsidiary of the U.S.-based Lehman Brothers Real Estate Partners acquired a minority stake in the Romanian company.
(1 euro=3.4485 Romanian lei)