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BVB posted a net profit of 2.83 million lei in Q1 of 2017

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The Bucharest Stock Exchange (BVB) posted a net profit of 2.83 million lei in the first quarter of this year, up 6.975 pct as compared to the similar period of 2016, according to the consolidated results published on their own website. 

" The consolidated net profit in Q1, 2017 was 2.83 million lei, rising significantly in comparison with the net result obtained in the same period of the previous year (Q1 2016: 0.04 million lei) with a net margin of 31 pct, 89 pct of the result being obtained from the Group's trading segment," reads the document. 

The operating revenues grew by 42 pct in the first three months of the year against the similar period of 2016, to 9.19 million lei, mainly driven by the total value of transactions on Bucharest Stock Exchange markets. 

"Operating expenses amounted to 6.23 million lei, up only 1.6 pct as compared to the first three months of last year, as a result of a 4 pct decrease in personnel expenditures, an increase in third-party services expenditures, generated by the preparation of the BVB-SIBEX merger and the increase in promotion and marketing expenses, amid the intensification of the capital market promotion activities, highlighted in other operational expenditures," the source mentions. 

According to the BVB, the 450,000 lei net financial revenues of the 2017 first quarter, mainly derived from interest on financial assets placed in government securities and bank deposits, had a positive evolution, being less affected by the unfavorable differences that were not achieved of the foreign exchange rate from the revaluation of foreign currency financial instruments, registered in the first quarter of 2017, of lei 150,000 lei, as compared to the same period of 2016 when they were lei 880,000 lei.

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