Bulgarian Paint Maker Orgachim's 9-mo Net Profit Falls 57% - Table

Exports accounted for 54% of total sales, the company said in a statement. Its main markets abroad are Turkey, Romania, Greece, Egypt, central European and the Middle East countries and the former Soviet republics.

Following are details from Orgachim's financial report filed with the Bulgarian Stock Exchange (in millions of levs):

The company's former CEO Ivan Sokolov earlier this year said Orgachim expects its sales to grow by about 24% in 2008 on the back of rising exports and the launch of new products. Orgachim’s 2007 net profit fell 16.4% to 6.764 million levs, as costs grew faster than revenue.

Company's shares, part of the blue-chip SOFIX index of the Sofia bourse, closed 8.7% lower at 94 levs. The statement was released before the end of trading.

(1 euro = 1.95583 Bulgarian levs)