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Bulgaria's Ideal Standard - Vidima cuts 2018 cons net profit, ups sales

Author Mario Tanev
Bulgaria's Ideal Standard - Vidima cuts 2018 cons net profit, ups sales Photo: Ideal Standard - Vidima / All rights reserved.

SOFIA (Bulgaria), July 12 (SeeNews) - Bulgarian bathroom sanitary ware producer Ideal Standard-Vidima said that its consolidated net profit fell to 502,000 levs ($289,000/257,000 euro) in 2018 from 2.5 million levs the year before, despite generating higher revenue.

Ideal Standard - Vidima's sales grew to 410.7 million levs last year from 390.9 million levs in 2017, the company said in an annual financial statement.

Expenses for materials increased to 210.0 million levs in 2018 from 199.0 million levs in 2017, while personnel costs rose to 90.6 million levs from 85.2 million levs.

Expenses for hired services edged up to 29.2 million levs from 28.3 million levs.

The company's consolidated assets rose to 441.7 million levs at the end of 2018 from 416.9 million levs a year earlier.

Ideal Standard - Vidima consolidates the results of its subsidiary Amstan Hotels.

Ideal Standard - Vidima is a unit of Ideal Standard Holdings (BC) Netherlands, which holds a 99.999% stake.

(1 euro = 1.95583 levs)

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