Romanian realtor Impact Bucuresti sails to profit in Q3 after wave of losses last year

The company saw revenues grow 4.6 times, pushing the profit up, after 4.18 million losses in the third quarter of 2006. The developer’s revenues reached 37.68 million lei. Impact is estimating an operating profit of 27.54 million lei this year from several real estate projects, while total revenues should stand at 290.42 million lei, versus the 262.88 million spending planned.

Company shareholders approved at the end of last month contracting a 26.3 million lei loan from the Banca Romaneasca, to refinance various credits and pay for some works. Impact increased its share capital to 200 million lei after a board decision on November 5. Impact Developer & Contractor shares are listed on the first tier of the Bucharest Stock Exchange under the IMP symbol.

Source: NewsIn