November 17 (SeeNews) - Romanian online retailer and smartphone producer iHunt [BSE:HUNT] said on Thursday its net profit dropped 28.3% on the year to 3.65 million lei ($773,698/741,734 euro) in the first nine months of 2022.
Turnover rose by an annual 10.6% to 37.6 million lei during January-September, iHunt said in a financial report filed with the Bucharest Stock Exchange.
The smartphone producer's revenues rose 8.4% on the year to 38.7 million lei in the nine-month period, while total expenses rose 15.6% to 34.5 million lei.
For 2022, iHunt forecasts a net result of 5 million lei and a turnover of 52 million lei, the report further showed.
The company's assets decreased to 56 million lei at end-September from 60.2 million lei at end-2021.
In 2023, the company aims to implement iHunt Solar Energy, a new business line, in collaboration with battery company Narada.
iHunt Technology Import Export started its activity in 2015 as a direct importer of mobile phones and accessories from China, with two employees. The company sells the products both through its online store and through over 200 physical stores.
In July 2019, the company was listed on the AeRO market within the BVB’s MTS. Currently, iHunt has a 38.35 million lei market capitalisation.
Its shares traded 0.20% lower at 0.5090 lei as at 1326 CET on Thursday.
(1 euro=4.9267 lei)