July 20 (SeeNews) - Bulgarian cables manufacturer Emka [BUL:EMKA] said that its standalone net profit grew to 7.3 million levs ($3.8 million/3.7 million euro) in the first half of 2022 from 4.9 million levs in the same period of 2021, as a result of a 23% annual spike in revenue.
Emka's revenue amounted to 85.8 million levs in the January-June period of this year, the company said in an interim financial statement published on Tuesday.
The company's expenses also rose in the review period, to 78.4 million from 64.8 million a year earlier, mainly as a result of a 23% jump in expenses for raw materials, to 78.4 million levs.
Domestic sales amounted to 23.75 million levs, while sales abroad totalled close to 60 million levs in the first half of 2022.
In June, Emka's shareholders voted for the distribution of a gross dividend of 0.15789 levs per share for 2021, or a total of some 3.43 million levs out of last year's net profit of 6.63 million levs. The dividend payout will begin on August 12.
As at 1351 CEST on Wednesday, shares in Emka traded flat at 3.88 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)