Romanian real estate leasing company Practic [BSE:PRBU] said on Monday it recorded a net profit of 26.9 million lei ($5.8 million/5.4 million euro) in 2023, down from 37.8 million lei in the previous year. Practic's net turnover increased to 42.3 million lei last year, from 37.8 million lei in 2022, the company said in a statement filed with the Bucharest Stock Exchange, BVB. Practic attributed the growth in turnover to multiple factors, such as maintaining the occupancy rate of its streetside commercial spaces around the 98% mark, diversifying its tenant mix, and identifying solutions for renting out office buildings located in non-optimal areas. The company's EBITDA decreased to 34.3 million lei in 2023, from 48.5 million lei in the previous year. Practic owned totat assets worth 481.7 million lei at end-2023, making for a rate of return on assets of 5.58%, down from 7.61% a year earlier. Total liabilities stood at 44.8 million lei, for a solvency ratio of 10.75, up from 10.09 in 2022. Practic was founded in 1962 as a state-owned company that managed food stores in Bucharest. The company was privatised in 1990 and started trading on the BVB in 1996. Practic’s shares last traded on March 22, closing 10.43% lower at 1,030 lei on the Bucharest bourse.
Far-right populist Călin Georgescu cannot run in Romania's May presidential elections after the Constitutional Court (CCR) rejected on Tuesday, March 11, all challenges against the Central Electoral Bureau's (BEC) decision to invalidate his candidacy. The top court's ruling is final and binding. "I want to tell you...
Romania is represented at two of the most important European book fairs this week, in London and Brussels, providing the Romanian literary scene with access to a wider audience. Both fairs reunite tens of thousands of visitors in events, lectures, and launches. Romania at the London Book Fair The Romanian Cultural Institute (ICR) is organizing […]
The Romanian Air Force will soon be able to carry out air defense missions for national and allied airspace with three F-16-equipped squadrons stationed across three air bases, defense minister Angel Tîlvăr said. He made the statement at a ceremony at Câmpia Turzii, marking the completion of the F-16 Fighting Falcon aircraft acquisition for the […]
Pro-Russian candidate Călin Georgescu, who is now seeking the support of the Trump administration to run for president of Romania, said Donald Trump "is not what he used to be" and called vice-president JD Vance “a virus” in a podcast from July 2024, Digi24 reported. Georgescu, who was virtually unknown...
The sixth edition of Urban Blues Fest will take place at The Pub Trocadero in Bucharest next month, from April 4 to April 6. This year’s festival promises three nights of blues performances that celebrate both tradition and modernity. The festival kicks off on April 4 with Sentimental Journey, featuring Robert Cristian Zsugya, aka Southernman […]
Graffiti Plus (GRF+), one of Romania’s leading communication consultancy agencies for brands and businesses, announced its intention to debut on the Bucharest Stock Exchange in 2025, a first for a local company in this sector. The company is one of the most awarded agencies in the region. In 2024, it had the highest number of […]
