Gap in exchange rates let Acron down
In January-March this year, Acron decreased its revenue by 25% (compared to the same period last year) to 14,920 billion rubles. The net profit from the sales collapsed by 66% to 2,405 billion rubles.
Acron Group announced its net loss of 10,174 billion rubles for the first quarter of 2020. While in January-March 2019 it was a profit of 7,009 billion rubles.
According to Acron press-release “the loss for the reporting period was due to negative exchange rate differences”.