February 1 (SeeNews) - Bulgarian car battery manufacturer Elhim Iskra [BUL:52E] said that its net profit grew by an annual 42.4% to 517,000 levs ($303,000/264,000 euro) in 2018.
The company's revenue rose to 37.1 million levs last year from 34.9 million levs in 2017, Elhim Iskra said in a financial statement earlier this week.
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The company managed to improve its traction battery sales last year, which offset the decrease in starter batteries sold.
Expenses increased to 36.5 million levs in 2018, from 34.5 million levs the year before, largely due to higher expenses for materials.
Elhim Iskra is part of blue-chip diversified group Stara Planina Hold [BUL:5SR].
The company exports 94% of its output.
(1 euro = 1.95583 levs)