The company posted losses of over RON200 million in the fourth quarter of 2016, while, in the first nine months of the year, it posted a net profit of RON39 million, double versus the year-earlier period.
In 2016, Romcab revenues rose 20% to RON1.017 billion, while expenses rose 55% to RON1.2 billion, resulting an operating loss of RON183.1 million, versus operating profit of RON71.31 million a year before.
Romania’s Financial Supervisory Authority (ASF) on Friday decided that Romcab shares should be suspended from trading as they fell 73% since the beginning of the year.
Businessman Zoltan Prosszer owns the majority stake in Romcab (69%) through car part dealer Sadalbari.