Bulgaria's Emka net profit shrinks 40% y/y in Q1

Emka’s total revenue slipped to some 38.3 million levs in January-March from 40.6 million levs a year earlier, the company said in an interim financial statement. Of that, some 37.7 million levs were generated from product sales, down from 39.8 million levs in the prior-year period.

Domestic sales amounted to 11.2 million levs in the three months through March, while sales abroad stood at 26.5 million levs.

At the same time, the company’s expenses declined to 35.7 million levs from 36.3 million levs, as costs for materials fell by 5% to 30.9 million levs.

As of 1530 CET on Monday, shares in Emka traded flat at 2.06 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)