Hidroconstructia sees 10% drop

Hidroconstructia SA, one of Romania's largest construction companies, logged a 10% turnover drop in the first quarter of 2004 as compared to the same time last year, down to 350bn ROL (8.6m euros). This time, the cold weather was no longer to blame for the decline, as the material prices and the prolonged negotiations for new orders were the main culprits. The company aims to post turnover of more than 102 million euros this year (4,200bn ROL), down 11% in euros from last year, whereas the global growth of the construction market is estimated at 10%. ZF