Bulgarian Car Battery Maker MonBat Jan-Sept Pre-Tax Profit Falls 43.23%

Company sales totalled 80.5 million levs through September, down 40.47% year-on-year, the company said in a statement. A total of 70.5 million levs of the sales came from production.

MonBat's September pre-tax profit was 25.34% lower on the year, while its sales dropped 10.11% year-on-year to 13.1 million levs in the same month.

The company, majority-owned by Bulgarian lubricants producer Prista Oil, has subsidiaries in Romania and Serbia. It exports to Germany, the Netherlands, Ukraine, Romania and Serbia. Exports generate around 85% of its total revenue.

MonBat shares, part of the blue chip SOFIX index on the Bulgarian Stock Exchange, advanced 0.69% to 7.3 levs in a volume of 1,867 shares on Tuesday.

(1 euro = 1.95583 Bulgarian levs)