Impact Developer & Contractor reported a RON 469,000 gross profit for the first quarter of 2010, down 84 percent from the same period of 2009.
According to the company, the drop was caused by orders that did not materialize into sales, due to delays in obtaining the necessary paperwork for completing the transactions, and the changes to the First House program made in the first trimester of this year.
The net profit for Q1 of 2010 was RON 216,000, while the company’s total debts decreased by 7 percent from RON 172 million in Q1 of 2009 to RON 159.39 million in Q1 of 2010.
As a strategy, the company has announced that it is focusing on increasing its market share.
Impact plans to launch a DIY solution for the residential market, which involves the buyer undertaking completion of the property at their own expense, in exchange for a 10-40 percent reduction in sale price. In the first quarter of this year, Impact continued works on the Quartz project, and focused on finishing the design stage for new projects that were set to start this year.