The company said Romania (32%) and Moldova (48%) are its main outlets which generated a 21% increase in revenue, accounting for 63% of the group’s overall sales.
“The group’s operating profit climbed 23% year-on-year in the first quarter of 2018, being positively impacted by an increase in gross profit and negatively impacted by additional administrative costs incurred by its stock market listing. The adjusted EBITDA rose 36% to RON11 million in the analysed period”, Purcari said in its quarterly report.
Purcari shares started trading on the Bucharest Stock Exchange on February 15, after successfully completing an IPO for 49% of its share capital.
In 2017, the company invested RON9 million in boosting its production capacity and in technology.