EnglishImpact Developer & Contractor - Bucharest posted a consolidated net profit of 32.24 million EUR, calculated as per the international financial reporting standards (IFRS). The sum includes the result of the reevaluation of 423,000 square meters of land, the company announced yesterday and was quoted by NewsIn.
The net profit of 32.24 million RON (IFRS) is nearly six times higher than the net profit of 5.4 million EUR calculated according to Romanian accountancy standards (RAS) for separate financial results. The company pointed out that, as of 2007, companies listed on the Bucharest Stock Exchange (BSE) have the obligation to report separate results according to RAS and consolidated results according to IFRS.
The IFRS results for 2006 include operating revenues of 32.72 million EUR, whereas overall revenues totaled 66.87 million EUR. The company is listed on the BSE and posted a Q1 net profit of 2.17 million RON (650,664 EUR) up 7.2 times higher than in the year-ago period. The company has issued one billion shares with a face value of 0.10 RON. The leading shareholder is Dan Ioan Popp with 30.20%.
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