October 31 (SeeNews) - Bulgarian textile company Mak [BUL:MAK] said on Tuesday that its standalone net profit jumped to 5.05 million levs ($2.74 million/2.58 million euro) in the nine months through September from 905,000 levs in the like period of 2022.
The company’s revenue surged to 40.7 million levs in January-September from some 21 million levs a year earlier, Mak said in an interim financial statement.
Sales to EU countries more than trebled to 21.9 million levs in the review period from 7.1 million levs a year earlier, representing 54% of total sales against 35% in the first nine months of 2022. At the same time, domestic sales grew to 18.6 million levs from 13.1 million levs, while their share of the total fell to 46% from 65%.
The company's operating expenses widened to 35.7 million levs from 20.1 million levs on the back of costs of goods sold, which went up to 19.4 million levs from 8.3 million levs.
Gabrovo-based Mak specialises in the production of police, firefighter, military and healthcare uniforms, with a portfolio of over 400 textile products.
Shares in Mak last traded at 37.00 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)