Turnover was 54.6% lower versus the corresponding period of last year, but over twice the level of 1H/2019.
Net profit reached RON924,000, down 77.8% from 1H/2020, but up 15.6% from the 1H/2019 level.
“Both the value of turnover, net profit and their decline against the same period of last year are in line with budgeted projections Arctic Stream made for the first half of this year. The global chip shortage and clients’ longer budget approval process were reflected in the falling turnover,” reads a company report.
Arctic Stream will retain its development directions both in the Software-Defined infrastructure area, and in the Cybersecurity and Data Center areas, which will contribute to short and medium-term organic growth.
Arctic Stream is 66.1% controlled by Dragos Octavian Diaconu, while 4.8% in stock is held by legal person investors and 29.08% by individual investors.
The shares of Arctic Stream started trading on the alternative trading system AeRO market, the equity segment of the Multilateral Trading System of the Bucharest Stock Exchange, on Thursday (July 29), under the ticker symbol AST.
(English version by Catalina Apostoiu)