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Ştefania Ciocîrlan
Construction company "Concefa" Sibiu (COFI) controlled by businessman Horaţiu Cercel, had a turnover of 5.8 million lei in Q1 2009, down 53.23% YOY. The company concluded no new contracts in the first quarter of 2009, but company officials announced that "Concefa" would begin working on older contracts this year.
The management of the company said the company has seen its activity shrink in the first quarter, due to the crisis in the construction sector, which led to the layoff of a large number of the company"s employees.
These circumstances caused the company"s profit to shrink 85.39% in Q1 2009, to 35,759 lei.
The company"s total revenues dropped almost 50% in the January-February 2009 period, to 12.3 million lei, while the company"s expenses dropped 49%, to 12.23 million lei.
Based on yesterday"s average trading price of 0.23 lei/share, "Concefa" Sibiu has a market value of 41.51 million lei. Cercel Horaţiu, the company"s general manager, holds a 65.33% stake in the company.
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