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The group's EBITDA in the first nine months fell 17.7% to 13.1 million euros, while net profit rose 3.7% on year to 9.7 million euros, the company told the stock exchange.

Sales revenue in the third quarter rose 14.7% on year to 17.3 million euros and net profit climbed 23.9% to 4 million euros.

Net profit attributable to equity holders of the parent company in the first nine months of 2017 amounted to 9.3 million euros, which is 2.1% more than in the same period last year.

The results of the group continued to be impacted by the difficult economic situation on the main markets in Russia and Belarus. Purchasing power in the aforementioned countries is low, due to which it is difficult to foresee the restoration of fast economic growth on the aforementioned markets, the management board said.

During the first nine months of 2017 the group's investments into property, plant and equipment totaled 590,000 euros. Investments were made mainly into opening and renovating own stores, as well as into equipment and facilities to maintain effective production for future periods.

The volume of total assets of Silvano Fashion Group decreased 9.3% on year to 50.9 million euros.

As of September 30, the group had 2,301 employees, 516 of whom worked in retail operations. The rest were employed in production, wholesale, administration and support operations. The number of employees has grown by 138 compared to the same period last year.