English
After beating its annual targets as early as the first semester, Condmag Braşov (COMI) estimates a 53% increase in turnover and a 55% increase of its net profit YOY, according to company officials.
These results come as a result of the cost-control measures that the company"s managers took this year. The fact that the company is included in the Dafora Group gave the company a competitive advantage.
Alexandru Tătăr, the company"s general manager: "Our belonging to the Dafora Group has helped us get lower prices for specific purchases, through the acquisition policy of the group. Dafora has more bargaining power than each company in the group, allowing the company to get lower prices for its purchases, which in turn would lead to lower input costs".
In H1 2009, Condmag had a net profit of 11.29 million lei, up 75% over last year"s similar period. The upward trend persisted in the third quarter, and the company estimates 190 millions in revenues for the first nine months of 2009, up 82% YOY, and a 66% increase of its net profit to 15 million lei.
In the coming period, the management team will review and set the investment strategy for 2010.
The company will continue to emphasize the efficient use of its available liquidity, according to its investment priorities and future business opportunities, company officials say. "Most likely starting in Q1 2010, the company will launch an investment process intended to help us get ready for major projects such as Nabucco", Mr. Tătăr says.
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