BVB-listed tech group Bittnet reports 2020 profit 20-fold higher than initially estimated
Bittnet Systems (BNET), the only Romanian IT group listed on the Bucharest Stock Exchange's main market, announced a consolidated net profit of RON 1.025 million (EUR 0.2 mln), 20 times higher than the preliminary and unaudited result…
Andrei Chirileasa · Journalist
· Updated · 1 min read
Bittnet Systems (BNET), the only Romanian IT group listed on the Bucharest Stock Exchange's main market, announced a consolidated net profit of RON 1.025 million (EUR 0.2 mln), 20 times higher than the preliminary and unaudited result announced on February 26.
The new profit figure appears in the annual report that will be subject to the shareholders' approval.
The annual report also shows revenues from customer contracts of RON 109.2 mln (EUR 22.4 mln), compared to RON 107.8 mln in the preliminary statements.
Even after consulting the company for clarifications, Ziarul Financiar daily could not identify the source of the revision. "It is not clear from the financial statements what determined the significant adjustment in the net profit," the daily concluded.
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