May 29 (SeeNews) - Bulgarian bottle cap manufacturer Herti [BUL:HTV] said that its consolidated net profit increased to 292,000 levs ($166,000/149,000 euro) in the first quarter of 2020 from 178,000 levs in the same period of last year.
Herti's revenue grew to 12.5 million levs in the January-March period of this year from 10.5 million levs in the same period of 2019, the company said in an annual financial statement on Monday.
The company's operating expenses rose to 12.2 million levs in the review period from 10.3 million levs the year before, mostly due to a 1.3 million levs rise in expenses for materials.
Earlier this year, Herti started the construction of a new compressed air station, which will optimize the company's energy and compressed air consumption and ensure the smooth running of its production machines.
Established in 1993, Herti produces over 1 billion bottle caps per year.
(1 euro = 1.95583 levs)