Bucur Obor reports Q1 / 2021 net profit of RON 4.35 million, a decrease by 12.7%

by   CIJ News iDesk V
2021-05-11   10:35
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Bucur Obor, the company that manages the shopping center of the same name in Bucharest, ended the first three months of the year with a net profit of RON 4.35 million, down 12.7 percent compared to the same period in 2020, and the business of RON 8.11 million, minus 3.5 percent.

"The decrease is due to the trade reductions offered to partners as a result of their difficult economic situation, generated by the Covid 19 pandemic, the establishment of new provisions and the increase of adjustments for the depreciation of receivables," the company's report reads.

The company is 54.4 percednt owned by Amadeus Group, a company wholly owned by Laurenţiu Postovaru, while Gelu Manea has 16 percent of the share capital.