On the other hand, net profit went down slightly to RON8.8 million, according to the report sent to the Bucharest Stock Exchange on Wednesday evening.
“During the first 9 months of 2023, the evolution of Vrancart S.A. (hereinafter referred to as “the Company”) was influenced by the decreasing demand for packaging generated by the reduction of consumption at macroeconomic level, especially during the past 4 months, due to the still high level of annual inflation (9.2%), as well as by the record values of interest rates in the past 10 years (…),” the company said in the report.
DIY retailer Dedeman’s owners, the Paval Brothers, hold 17.2% in Vrancart.
(English version by Loredana Fratila-Cristescu)