Tech company LIFE IS HARD reports net profit of 2.7 million RON in Q3

LIFE IS HARD (LIH), a technology company listed on the Bucharest Stock Exchange (AeRO market), announces a turnover of 15.9 million RON, up by 290 percent in Q3. It recorded a gross profit of 3 million RON, while the net profit reached 2.7 million RON, registering an increase of over 900 percent compared to the same reference period in 2020.

“The companies in which LIFE IS HARD has holdings have also witnessed increasing financial performances, which strengthens our foundation and increases our ability to operate on the market. From a general perspective, the activity of LIH and of the companies in which we have holdings generated, altogether, a turnover of 24,251,243 RON and a gross profit of 5,315,240 RON, respectively a net profit of 4,774,656 RON at the end of the third quarter. It is a confirmation that the partners we have chosen contribute to the accelerated growth strategy that LIFE IS HARD is developing”, says Catalin Chis, CEO and Chairman of the LIH Board of Directors.

The 3rd quarter is the first in which LIFE IS HARD received income from financial assets (dividends) including from its recently acquired company – Innobyte – in addition to those from Performia’s activity. Cumulated, they amount to 1,616,231.93 RON and represent a consistent contribution to the increase of the profit.

On November 1, the stock market value of the company was over 69 million RON, according to BVB.

For 2021, the company aims to exceed 20 million RON in turnover, and for 2022 the market capitalization to reach 100 million RON.