In the first quarter of 2011, the company had a turnover of RON12.11 million and a profit of RON151,000.
Concefa’s revenues dropped 85.8%, to RON2.69 million and the company had expenses of RON12.9 million, 31.1% lower compared to the first quarter of last year.
The company’s debts amounted to RON25.77 million at the end of March, 81.4% lower on the year. At the same time, its receivables increased 43.3%, from RON40.46 million to RON58.01 million.
The construction company filed for insolvency mid-February and Casa de Insolventa Transilvania was designated its judicial administrator mid-March.
The company’s general manager, Horatiu Cercel, transferred his stock in the company to his parents. Vasile snd Maria Cercel own 31.1% in Concefa, and a third individual shareholder, Adina Maria Blajiu, owns 31.5% of the capital, according to the most recent available data.
The most recent transfer with Concefa stock was at RON0.0102/share, which brings the company’s market value to RON6.4 million. (EUR1=RON4.426)