October 11 (SeeNews) - Bulgarian power tools manufacturer Sparky Eltos had a nine-month net profit of 6.2 million levs ($4.5 million/3.2 million euro), 42 times higher than a year earlier, a company official said on Thursday.
The company's net profit through September stood at 6.221 million levs, Sparky Eltos's financial director Miroslav Velev told SeeNews but declined to comment on the reason for the surge.
Velev has said the company expects an almost tenfold rise in net profit to about 9.2 million levs this year from 929,000 levs in 2006 based on growing sales of professional electric tools.
Following are details from Sparky Eltos’ financial report sent to the Bulgarian Stock Exchange (BSE), where the company is listed (in millions of levs):
|
|
9-mo'07 |
9-mo'06 |
2006 (audited) |
| NET PROFIT |
6.221 |
0.148 |
0.929 |
| SALES REVENUE |
49.232 |
32.756 |
49.232 |
| TOTAL REVENUE |
49.440 |
32.887 |
49.440 |
| TOTAL COSTS |
49.440 |
32.887 |
49.440 |
Sparky Eltos plans to invest 25 million levs in upgrades under an investment programme ending at the end of 2010. It will finance spendings through a 44.8 million levs capital increase.
Shares in the company, part of the blue-chip SOFIX index of the stock exchange in Sofia, last traded at 18 levs at 0803 GMT, up 1.7% from the previous close.
(1 euro = 1.95583 Bulgarain levs)