May 10 (SeeNews) - Bulgarian Rose [BUL:4BH] said that it expects higher revenue from sale of cosmetic products in the second quarter of the year and a drop in tobacco sauces and flavors sales.
The company's sales revenue fell to 829,000 levs ($474,000/424,000 euro) in the first three months of the year from 854,000 levs in the comparable period of 2018, Bulgarian Rose said in a bourse filing last week.
The company’s tobacco sauces and flavors sales will be negatively impacted by Blagoevgrad-BT’s decision to discontinue its operations.
Blagoevgrad-BT, which operates a cigarette factory in Blagoevgrad, is a unit of diversified group Bulgartabac Holding [BUL:57B], which sold its leading cigarette brands to British American Tobacco in 2017 in a deal worth more than 100 million euro.
Karlovo-based Bulgarian Rose, established in 1948, manufactures cosmetic products for face, body, and hair using rose oil and locally-grown herbs.
Bulgarian Rose, part of blue-chip industrial group Stara Planina Hold [BUL:5SR], has stores in nine cities across Bulgaria.
(1 euro = 1.95583 levs)