Budget rectification due to the underestimates evolution of the construction market

Bistrita, October 6th 2014 – Teraplast (TRP), Romanian producer of systems in the field of installations and constructions, estimates to accomplish in 2014 a turnover of RON 230.6 million, slowly increasing (1.77%) as compared to 2013, but 12% lower than the budget established at the beginning of the year. In the rectified budget, the estimated gross profit is RON 5.12 million, better by 9.48% as compared to 2013, but under the estimates from the beginning of 2014.

The adjustment of the budget for 2014 is based on the evolution below the expectations of the constructions market. According to NIS, in the first 7 months of the year the volume of the construction works decreased with more than 11% comparing with the same period of the previous year, and the volume of engineering constructions decreased with about 27%. We estimate that also in August and September the construction market didn’t record significant improvement in its evolution.

Details here…