Impact posts 2009 profit, continues to cut administrative costs

Real estate developer Impact posted a net profit of around EUR 150,000 out of total revenues of EUR 18.4 million last year, according to its unaudited financial results released by the company.

“Given the current economic conditions, our priority this year is to continue with administrative cost control. We also want to increase our portfolio of housing solutions, especially for clients of new projects that start this year,” said Carmen Sandulescu, executive financial director of Impact Developer & Contractor.

The developer delivered over 10 percent of the 1,700 residential units which were completed last year in Bucharest, having signed 8 percent more housing sale contracts last year than in did in the previous year. The company managed to reduce its debt to 34 percent of its assets, according to Impact.

Corina Saceanu

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