Impact anticipates 50% rise in profit

Constructor and real estate developer Impact Bucharest expects net profit for 2004 to reach 6.23 million euros if the average ROL/EUR exchange rate stays at 43,000 ROL. Impact’s profit would therefore total 268bn ROL as set in the S&R budget, up nearly 50% in nominal terms from last year, when Impact made 180bn ROL net profit. Impact intends to begin construction works on five residential complexes: Green Field, Traian Vuia, Junior, Oradea and Ploiesti and complete the Epsilon-Zeta and Class complexes this year. Furthermore, it also plans to start working on the new corporate headquarters, Construdava, for which it will close a 6.5 million euro funding deal with German MTS Leasing Company for twenty years. Impact will contract another loan worth $1.2 million from HVB, which will allow it to finish the Junior residential complex ahead of schedule. ZF