You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Amylum Bulgaria cuts 2018 net profit on lower revenue

Author Mario Tanev
Amylum Bulgaria cuts 2018 net profit on lower revenue wrangler/Shutterstock.com

SOFIA (Bulgaria), July 12 (SeeNews) - Maize processor and starch producer Amylum Bulgaria, part of US food processing company Archer Daniels Midland Company (ADM), said that its net profit fell to 37.7 million levs ($21.7 million/19.3 million euro) in 2018 from 42.4 million levs in 2017.

Amylum Bulgaria's sales decreased to 555.4 million levs in 2018 from 598.7 million levs the year before, the company said in an annual financial statement.

Cost of goods sold dropped to 416.2 million levs from 456.6 million levs.

The company's distribution and marketing expenses edged down to 74.1 million levs last year from 75.2 million levs in 2017.

Amylum Bulgaria's assets increased to 387.6 million levs at the end of 2018 from 377.6 million levs a year earlier.

The company employed 345 people in 2018.

Amylum Bulgaria's main export markets are Turkey, Greece, Romania, the Czech Republic, Poland and Germany. 

(1 euro = 1.95583 levs)

Compare