Hidroconstructia SA, the largest constructions firm in Romania in terms of turnover, registered halved gross profit in the first half of this year as compared to the corresponding period of last year. It reached a mere 44 billion ROL (1.08 million euros), due to the increase in steel, cement, energy and fuel prices, according to Gheorghe Dumitrascu, the company's economic manager. Hidroconstructia turnover posted an 11% drop in ROL, down to 1,362 billion ROL (33.5 million euros) in the first six months of this year, in the context where the constructions market has witnessed an ascending trend since the beginning of this year, according to statistical data. "This year, we started works in April, one month later than the previous year, because of the bad weather. On the other hand, profitability was hit by price increases for steel, concrete, cement, power and fuel, which were reflected over the entire eight-month period since the beginning of the year. Prices increased on average by 25-30% against the basket (the goods basket taken into account when calculating inflation)," Dumitrascu explained. By comparison, in the first half of last year Hidroconstructia logged a gross profit of about 87 billion ROL (2.3 million euros) against turnover worth 1,520 billion ROL (41.6 million euros). ZF
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