Metrostav's revenues grew to CZK 21.6 billion last year as profit stagnated

9 April 2014 Prague, 9 April 2014 (ČTK) - Last year, Metrostav's revenues grew to CZK 21.6 billion crowns from the CZK 20.83 billion the company recorded in 2012. Net profit amounted to CZK 286.67 million and CZK 288.58 million in 2013 and 2012, respectively. The figures come from an invitation to the firm's general meeting. Last year's data are based on the financial statements and are preliminary, pending approval by Metrostav's general meeting. Although the management has declined to comment on the firm's financial results before the general meeting, the figures roughly correspond to the company's expectations. Last April, Metrostav's CEO Pavel Pilát told ČTK that the firm's financial forecast for 2013 was similar to figures recorded in 2012. In 2013, Metrostav became the market leader in terms of revenues because its competitors experienced a sharper decline. Metrostav's last year's takings were at the level of 2011, when they reached the 21.6 billion crown mark. In 2010, revenues amounted to CZK 21.1 billion. Metrostav, however, has not been immune to the problems plaguing the Czech construction sector. In January, the firm admitted that it had to lay off 170 employees in 2012, which translates into seven percent of its workforce. At the end of 2013, Metrostav had 3,006 employees, of which laborers and technicians accounted for one and two thirds, respectively. The company has existed in its present form since 1990, and it is the legal successor of a state-owned enterprise established at the beginning of the 1970s. Other members of the Metrostav Group include the Subterra construction company and Zakládání staveb, which specializes in foundation engineering.