Bulgaria's Herti Q1 non-cons net profit falls 14% y/y

Herti's operating revenue went down to roughly 18.3 million levs in January-March from 23.4 million levs a year earlier, the company said in an interim financial statement. Of that, 17.4 million levs were generated from product sales, down 25% on the year.

The company's expenses narrowed to 16 million levs in the review period from 20.8 million levs, mostly due to a 33% annual drop in costs for materials to some 9 million levs.

Herti produces 2 billion bottle caps annually and sells them in over 60 countries through its subsidiaries in Romania, the U.K., France, Germany and the U.S., 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)