One of the mayor construction players in the Czech Republic, Geosan, announced its profits fell 56 percent last year compared to 2010. While the profit dropped to CZK 39.9m last year, revenues decreased by 24 percent y-o-y to CZK 2.4bn. Capacity has fallen as well, as its payroll dropped by 24 percent to 149 people. The chairman of the board and CEO at Geosan Luděk Kostka blames the lack of public orders: “Twenty companies compete for an order lately,” he says. “Even the big names with billion turnovers are interested in small orders.”
