July 7 (SeeNews) - Bulgarian bathroom fittings plant Ideal Standard-Vidima more than halved its net profit to 16 million levs ($11.4 million/8.17 million euro) last year on high writedowns, local Investor.bg news portal reported.
The company booked write-downs of 22 million levs last year, Investor.bg wrote.
Ideal Standard-Vidima raised its 2008 sales by 4.9% to 419 million levs. Company officials were not immediately avilable to comment.
Ideal Standard-Vidima is owned by Belgium-based bathroom equipment manufacturer Ideal Standard International, which has another Bulgarian unit, bathroom fixtures manufacturer Ideal Standard Bulgaria.
(1 euro = 1.95583 Bulgarian levs)