June 14 (SeeNews) - Bulgarian industrial group KCM 2000 said that its consolidated net profit dropped sharply to 5.8 million levs ($3.3 million/3.0 million euro) in 2018 from 54.3 million levs in 2017.
KCM 2000's sales revenue fell to 737.5 million levs last year from 760.9 million levs in 2017, the company said in an annual financial statement earlier this week.
The group's expenses for materials increased to 608.6 million levs in 2018 from 601.1 million levs the year before, while personnel costs rose to 47.4 million levs from 42.7 million levs.
Expenses for hired services and amortisation costs fell slightly, to 23.6 million levs and 33.5 million levs, respectively.
Financial expenses soared to 33.2 million levs from 14.8 million levs.
In 2018, the company started drafting a new sustainable development plan and will continue to work in that regard in 2019, it said. According to local news outlet Capital, KCM is preparing an investment of 150 million euro which will allow the company to produce metals other than the lead and zinc it currently produces.
(1 euro = 1.95583 levs)