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Bulgaria's Emka more than doubles 9-mo net profit

Bulgaria's Emka more than doubles 9-mo net profit Emka / All rights reserved.

SOFIA (Bulgaria), October 26 (SeeNews) - Bulgarian cable and wire manufacturer Emka [BUL:EMKA] said on Tuesday that its net profit rose to 6.2 million levs ($3.2 million/3.8 million euro) in the first nine months of 2021 from 3.0 million levs in the same period of last year, backed by higher revenue.

Emka’s total revenue soared to 103.1 million levs in the January-September period of 2021 from 69.3 million levs a year earlier, the company said in an interim financial statement.

The company’s expenses rose to 96.9 million levs from 66.3 million levs, as expenses for materials increased to 87.4 million levs from 57.0 million levs.

Shares in Emka closed flat at 3.90 levs on the Bulgarian Stock Exchange on Tuesday, bourse data showed.

(1 euro = 1.95583 levs)