Comnord business up to €14.2 mln in Q1

The company, which is constructing the Baneasa real estate project in northern Bucharest, is listed on BVB’s electronic Rasdaq market.

Due to lower expenditures, the company’s net profit rose 52.6 percent year-on-year, up to €2.1 million, according to its financial report.

The company’s share capital amounts to some €1.1 million. Its main shareholder is Comnord’s General Manager, Sorin Creteanu, with a 54.22 percent package. Another important shareholder is Cyprus-based Naveco Limited, with 31.35 percent of the shares.

By the end of Friday’s trading session, Comnord shares were worth RON 11.1 (€3.03), leading its market capitalization to €118.4 million.

Comnord’s main competitors are Bouygues, Heberger, Summa, and Ozer Constructions on a market estimated to be worth some €13 billion, with 25-30 percent annual growth.