February 23, 2017 / 3:18 PM / 5 months ago

BRIEF-Eastern Europe's low buying power hurts Silvano's Q3 2016 results, no growth expected

1 Min Read

Feb 23 (Reuters) - Silvano Fashion Group AS:

* Q3 2016 turnover at 15.0 million euros ($15.86 million) versus 17.4 million euros year ago

* Q3 2016 net profit at 3.2 million euros versus 5.3 million euros year ago

* Says 9-month results of 2016 were defined by continued challenges in economies of its major sales markets – Russia, Belarus and Ukraine

* Says purchasing power in region`s countries remains low, future expectations are still more on a negative or neutral side

* Says it is hard to see some kind of relatively fast recovery in growth rates of economies under discussion

Source text: bit.ly/2lzinMy

Further company coverage: ($1 = 0.9455 euros) (Gdynia Newsroom)

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