Romania's Argus swings to net loss in 2023

Argus' net turnover dropped by an annual 32% to 246.6 million lei last year, the company said in a financial report filed with the Bucharest Stock Exchange on Thursday.

The decline came as a result of reduced prices for crude, refined bulk, and bottled sunflower oil, Argus explained. The volume of sales for bottled oil was roughly the same as in 2022, it added.

Founded in 1943 and headquartered in the seaside city of Constanta, Argus is one of Romania's most representative companies in the field of oilseed processing.

Argus' shares last traded on April 17, closing 1.05% higher at 1.92 lei on the Bucharest bourse.

(1 euro=4.9763 lei)