“Our contracts are in euro and this year’s depreciation of the exchange rate affected our lei results. We are not affected by the crisis, which began only in the past two-three months. We may feel possible effects of this crisis in 2009,” Cristian Tudor, a Manager of the Comnord-Procema group, told Business Standard.
Comnord Bucharest’s net profit dropped 34 percent in this year’s first three quarters, to RON 16 mln (€4.3 mln), while total revenues dropped 11.7 percent, to RON 185.4 mln (€48.29 mln), and total spending 7.4 percent, down to RON 167.8 mln (€43.7 mln).
The company’s main competitors on the local market are Bouygues (France), Heberger (Germany), and the Turkish Summa and Ozer Construction companies.
