February 4 (SeeNews) - Bulgarian bottle cap manufacturer Herti [BUL:HTV] said that its non-consolidated net profit rose to 786,000 levs ($444,000/402,000 euro) in 2019 from 682,000 levs the year before, backed by higher revenue.
Herti grew its revenue to 43.2 million levs last year from 40.1 million levs in 2018, it said in an interim financial statement last week.
The company's operating expenses increased to 42.5 million levs from 39.3 million levs in 2018, as expenses for materials rose by 1.8 million levs and salaries added over 900,000 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)