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Bulgaria's Elhim Iskra grows 9-mo net profit, lowers expenses

Author Mario Tanev
Bulgaria's Elhim Iskra grows 9-mo net profit, lowers expenses Author: Elhim Iskra / All rights reserved.

SOFIA (Bulgaria), October 29 (SeeNews) - Bulgarian car battery manufacturer Elhim Iskra [BUL:52E] said on Tuesday that its net profit rose to 686,000 levs ($389,000/351,000 euro) in the first nine months of the year from 488,000 levs in the same period of 2018.

Elhim Iskra's revenue fell to 27.0 million levs in the January-September period of 2019 from 29.2 million levs in the comparable period of last year, the company said in an interim financial statement.

The company's revenue fell largely due to lower sales of starter and traction batteries, it said.

Operating expenses decreased to 26.3 million levs in the review period from 28.7 million levs in the like period of 2018, mainly due to lower expenses for materials.

Elhim Iskra is part of blue-chip diversified group Stara Planina Hold [BUL:5SR]. The Pazardzhik-based company exports over 90% of its output.

(1 euro = 1.95583 levs)

 

 

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