July 9 (SeeNews) - Bulgaria-based textile company E. Miroglio said that it turned to a consolidated net loss of 19.6 million levs ($11.2 million/10.0 million euro) in 2018 from a net profit of 15.6 million levs in 2017, due to higher expenses.
E. Miroglio's operating expenses grew to 279.5 million levs last year from 241.0 million levs in 2017, the company said in an annual financial statement.
The rise in expenses was mainly due to higher expenses for materials and hired services, as well as personnel costs.
The company's operating revenue edged up to 260.5 million levs in 2018 from 258.6 million levs the year before.
E. Miroglio's assets increased to 810.9 million levs at the end of 2018 from 796.6 million levs a year earlier.
(1 euro = 1.95583 levs)