Octagon Contracting & Consulting reports 23 percent profit hike for 2011

Octagon Contracting & Consulting signed new contracts worth EUR 3 million last year, while its total turnover reached EUR 12.5 million. The company’s profit amounted to EUR 0.58 million, up 23 percent y-o-y.

“In 2011, the Romanian construction market continued to be relatively less attractive for private investors as well as for the state. However, retail and office segments had a clear upward evolution while the residential segment remained affected by the crisis. 2011 was a dynamic year for the infrastructure segment which will continue to be so this year also,” said Alexandros Ignatiadis, the company’s owner.

Last year the company established an office in Iraq, Baghdad, and acquired 58.5 percent of Comat Electro, an industrial park in Bucharest.

Octagon Contracting & Consulting executes special geotechnical works – diaphragm walls, slurry walls, bored piles, micropiles, grouting, anchors, sheet piles – general contracting, concrete structure works, steel works and restoration and consolidation works for historical and state-owned buildings. The company was set up the in 2005 by Ignatiadis and his partner, Paschalis Paganias.

Simona Bazavan

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