The net profit of the Bucharest Stock Exchange (BVB) fell by 44%, to RON 1.8 million, in the first half of this year, as compared to the previous year, a report released by the capital market operator reads.
“BVB’s net profit during January-June 2016 was of RON 1.8 million, by 44% lower than during the same period last year, influenced by the losses from unaccomplished foreign exchange differences resulting from the revaluation of financial assets in foreign currency, the net margin being of 13%. The trading segment contributed to a quarterly profit of RON1.7 million to the entire group’s profit. On June 6, BVB has distributed dividends from net profit in 2015, amounting to RON 6.7 million, representing 100% of the net profits after reserves. The gross dividend approved for 2015 was of RON 0.8687/share,” the release reads.
According to the BVB, in H1 2016, the impact of weak results in Q1 resulted in a 5% decrease in operational incomes as compared to the same period last year, to RON 14.2 million, a 5% cut in operational expenditures to RON 12.9 million, following the decisions made to counter the decline in operational income.