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Oct 12, 2007 19:26 EEST
October 12 (SeeNews) - Bulgarian mineral extracting and processing company Kaolin on Friday said it more than doubled its net profit for the first nine months of the year to 15.7 million levs ($11.4 million/8.0 million euro), as sales rose by nearly a third.
Kaolin has suffered some negative impact from the rising prices of transportation services resulting from high fuel prices but has retained the stable growth rate in the sales of all of its products, the company said in a statement. It also said it expects its consolidated revenue through September to reach some 84.5 million levs.
Following are figures from Kaolin's income statement filed with the Bulgarian Stock Exchange (in millions of levs):
The company, majority owned by Bulgaria's Alfa Finance Holding, is the sole producer of kaolin and silica sands in Bulgaria. It operates 12 mineral deposits and eight processing factories in Bulgaria, and five deposits and two factories in Bulgaria's western neighbour, Serbia. The company also has a subsidiary in neighbouring Romania. It exports about 70% of its output to Turkey, Romania, Italy, the Middle East and North Africa.
Shares in Kaolin, part of the blue-chip SOFIX index, closed 4.3% higher at 20.9 levs in volume of some 17,900 shares on the Bulgarian Stock Exchange on Friday. The company released its nine-month results after the close of trading.
(1 euro = 1.95583 Bulgarian levs)
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