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Bulgaria’s Emka boosts Q1 net profit, share price jumps 5%

Author Mario Tanev
Bulgaria’s Emka boosts Q1 net profit, share price jumps 5% Author: Emka / All rights reserved.

SOFIA (Bulgaria), April 20 (SeeNews) - Bulgarian cables maker Emka [BUL:EMKA] said on Tuesday that its net profit grew to 2.4 million levs ($1.5 million/1.2 million euro) in the first quarter of the year from 1.3 million levs in the same period of 2020.

As at 15:10 CET on Tuesday, shares in Emka traded 5% higher at 2.94 levs on the Bulgarian Stock Exchange.

Emka’s total revenue increased to 32.5 million levs in the review period from 24.1 million levs the year before, the company said in an interim financial statement.

Sales in the country amounted to 9.2 million levs, while exports totalled 22.8 million levs. In the first quarter of 2020, Emka reported domestic sales of 6.3 million levs and exports of 17.3 million levs.

The company’s expenses rose to 30.1 million levs from 22.8 million levs on the back of higher expenses for materials.

(1 euro = 1.95883 levs)

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