Vulpoi & Toader Management announces 32 percent increase in turnover for 2010

The group of firms Vulpoi & Toader Management (VTM), a Romanian company specializing in accounting, auditing, financial and accounting consulting, have announced a turnover of 8,467,857 RON (about EUR 2 million) for 2010, up 32 percent compared with 2009. In 2009, the firm registered a profit of EUR 300,000.

These figures place the company in the first half of the top 40 largest Romanian companies, specializing in accounting, auditing and tax consultancy. In total, the top 40 companies in the field have registered a turnover of over EUR 173 million and gross profits of over EUR 23 million in 2009. The accounting services business represents about 70 percent of VTM’s activities, with the rest focusing on services as legal, auditing, consulting and implementation for obtaining European funds and human resources.

Concerning expectations for this year, Marcel Vulpoi, managing partner Vulpoi & Toader Management stated as follows: “the estimated turnover for 2011 is EUR 2.7 million. Optimistically speaking, we are expecting EUR 3 million. On what concerns profitability, we continue to hope that accounting services will be the most profitable, while the other businesses, and I am referring here to financing and European funding, to create the premises for a durable development in these areas, as well.”

Among the newcomers at VTM are Dan Costin Nitescu (former Director of Eximbank and Marfin Bank, where he led the structuring of financing in areas such as production and export of complex equipment, shipbuilding, timber industry and metallurgy) and Dan Niculaie (with over ten years experience in the position of chief financial and operations of companies such as Medicare, Unicredit Leasing and Tiriac Imobiliare).

Established in 2004, Vulpoi & Toader Management (VTM) supplies “one stop shop” services for financial accounting and business consultancy through a multidisciplinary team of 70 professionals. VTM client portfolio includes approximately 200 companies, including Nova Real Estate, Master Chem Oil SRL, Bear Projects Ltd., Medicare Technics, Sprider Stores.