Property developer Impact (ticker: IMP) said it expects its pre-tax profit for this year to come in at 4.07 million lei, according to decisions made by shareholders at the general meeting.

The company predicts revenues of 7.85 million lei and expenses of 7.7 million lei. Profit from financial activities is estimated at 151,902 lei, total profit at 3.25 million lei in first quarter and loss by the end of the year.

The developer has revised its preliminary results downwards and posted net profit of 141.540 lei.

Shareholders have also approved the capital hike of the company between April 2010 – April 2011 by 100%. The board has been commissioned to draw additional credit facilities for new projects and to set the necessary €5 mn guarantees.

Impact has a share capital of 200 million lei, divided into 200 million shares at a face value of 1 leu. The main shareholders are Dan Ioan Popp with 22.06% and Carmen Sandulescu with 11.61%. At the end of last year, Franklin Templeton investment fund acquired 6% interest.

The company’s market cap is 158 million lei (€38.36 mn), according to latest quote of 0.79 lei/share.