February 27 (SeeNews) - Bulgarian bottle cap manufacturer Herti [BUL:HTV] said that its consolidated net profit rose to 701,000 levs ($444,000/402,000 euro) in 2019 from 622,000 levs the year before, backed by higher revenue.
Herti lifted its revenue to 43.5 million levs last year from 41.8 million levs in 2018, it said in an annual financial statement earlier this week.
The company's operating expenses increased to 42.7 million levs from 41.2 million levs in 2018, as expenses for salaries added 846,000 levs year-on-year.
Last year, Herti said it is seeking a 1.1 million euro loan from local lender UniCredit Bulbank to finance the purchase of new machinery and equipment. The company also extended the term of its overdraft credit line agreement with Raiffeisenbank Bulgaria to 2023.
Established in 1993, Herti produces over 1 billion bottle caps per year.
(1 euro = 1.95583 levs)