May 4 (SeeNews) - Bulgarian state-owned arms trader Kintex said its net profit more than tripled to 9.3 million levs ($5.18 million/4.74 million euro) in the first quatrer, from 2.85 million levs in the corresponding period of last year.
The company's sales revenue, which is generated chiefly from exports, rose to 90.4 million levs in the period January-March, from 24.3 million levs in the same quarter last year, Kintex said in its Q1 2017 financial report.
Operating profit more than doubled to 11 million levs, from 4.56 million levs in the first quarter of 2016.
Kintex was established 51 years ago. In 1992, Kintex became a joint stock company wholly owned by the state. It is specialized in exports of products manufactured by Bulgarian defence and machine-building industries.
(1 euro=1.95583 levs)