Intracom Constructions Societe Anonyme Technical and Steel Constructions Reports Consolidated and Parent Company Earnings Results for the Full Year of 2012
For the year, on parent company basis, the company's sales amounted 66.4 million as opposed to 69.4 million recording a minor reduction of 4.3% in respect to the year 2011. The company's results before taxes amounted to losses of 6.5 million as opposed to profits of 2.0 million for 2011, while net results amounted to losses of 5.45 million as opposed to profits of 408,000 for 2011. The company's results were significantly affected mainly by the additional provisions for doubtful accounts formed within the current year amounting 2.13 million, as well as by the impairment of fixed assets incurred and charged on the results, amounting 1.76 million. The company's results before interest, taxes, depreciation, and amortization, amounted to profits of 872,000 as opposed to profits of 7.5 million for 2011.