Lower turnover
With a 3.8 million euro net profit, the company did remarkably better than a year ago, when it managed a mere 0.2 million euro profit. One point of interest: the costs for an IPO were not included in last year’s numbers, because if those were, then net profit would have been relatively stable compared to the year before.
The 440-year old company experienced a lower turnover in its past fiscal year, reaching 77.7 million euro, mainly because of negative exchange rate fluctuations as the Japanese yen and Russian ruble lost some value. European market conditions improved, but American turnover dropped while the Russian economy is still struggling.
For the first few months of the current fiscal year, results are in line with last year’s performance.
