16% lower profit for Impact in Q2

Impact Developer & Contractor (IMP) company generated a net income worth 8.6m RON (2.5m euros) in the second quarter of this year, above the budgeted level and 16.5% lower against the corresponding period of 2006. Impact management specified that income fell amid the switch to Romanian accounting standards. Thus, in line with international accounting standards, Impact’s H1 income reached 10.8m RON (3.4m euros), around 11% above the level reported in the same period of 2006. Q2 turnover shrank four times, to 14.7m RON (4.37m euros) as the sale of Construdava building was registered in the same period of 2006. At the middle of this year, Impact’s overall revenues climbed by 34% to 81.6m RON (24.6m euros). In the first half, the developer sealed sale contracts for 162 flats, which totalled 20.4m euros. The value of ongoing works is 70% higher against the level registered in the first six months of 2006, say company representatives.