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Concefa Sibiu likely to double business in 2008

Concefa Sibiu (COFI) construction company estimates to double its business up to 45 million euros, given contracts already signed with private and public partners, Ziarul Financiar daily reports on Tuesday.

The company's officials estimated a turnover of 22-23 million euros in 2007, up 55 percent against 2006 and a gross profit of 8-9 percent of the business's value. Concefa Sibiu general manager and majority shareholder Horatiu Cercel says the company's profitability might go down this year because the leu depreciation , but no more than 2-3 percent. For 2008, Concefa plans investments of 17 million euros. Concefa also plans to purchase Bravcov construction company for over 5 million euros. The Competition Council has recently approved the purchase of Tunele Brasov construction company by businessman Horatiu Cercel. Cercel says he will create a holding that should allow him to take part in international auctions in the field of infrastructure. After the first nine months of 2007 Concefa reported a net profit of 1 million euros, five times more than in the same period of 2006. The company's business went up 75 percent to 14.3 million euros in the first nine months of 2007. Sursa: http://www.rompress.ro

Tags: concefa euros million business sibiu

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