Bulgaria's Herti grows 2023 cons net profit on lower expenses

Herti's total revenue fell to 78.2 million levs last year from 94.7 million levs in 2022, the company said in a financial statement. Product sales generated 75.2 million levs, down 17% on the year.

In parallel, operating expenses narrowed to some 71 million levs in the review period from 87.6 million levs the prior year, following a 31% drop in costs for materials to 38.9 million levs.

Herti produces 2 billion bottle caps annually and sells them in over 60 countries through its subsidiaries in Romania, the UK, France, Germany and the US, according to its website.

Shares in Herti last traded at 2.405 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)