Local IT solutions integrator Power Net Consult has beenfocusing on private sector this year as the state stopped investingin IT projects.
The share of the contracts with the state in Power NetConsulting's business shrank to 40% compared with 70% last year,said Emil Munteanu, managing partner of the company.
Under the circumstances, the company anticipated 10-15% declinein turnover this year to some 15 million euros.
The company ended 2009 with 1.5 million euros in gross profit,while turnover stood at 17 million euros, according to TradeRegistry data. Power Net Consulting's revenues have risen quite alot in recent years as a result of doing business with the state.In 2008 the company reached 27 million euros in turnover, thehighest level since it was set up.
"2010 is a more difficult year than 2009 and much more difficultthat 2008. This translates into no public sector projects beingcarried out, while the projects we have in the private sector havegone down from hundreds to tens of thousands of euros because ofthe lack of money," Munteanu explains, adding Power Net Consultinghas ongoing projects that take months to complete because of thelack of funds.
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