“Assuming that the current exchange rate prevails, a substantial one-off financial loss is expected to occur on the year-end reassessment of the rouble denominated trade payables,” the company said.
Richter said its management was closely following developments in the Russian economy and would make all efforts possible to minimize the negative impacts on the company’s performance.
Richter’s sales in Russia accounted for just under one-quarter of total revenue, calculated in forints, in Q1-Q3, the company’s last earnings report shows.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
