November 27 (SeeNews) - Bulgarian lavender oil and cosmetics producer Lavena [BUL:4L4] said on Tuesday that its consolidated net profit fell by an annual 52% to 1 million levs ($579,000/511,000 euro) in the first nine months of the year.
The company's revenue decreased by 13.8% to 12.7 million levs in the January-September period, Lavena said in an interim financial statement.
Lavena's operating costs decreased by 8.8% to 12.4 million levs thanks to materials expenses falling by 21% to 6.3 million levs.
Established in 1962, Lavena owns lavender plantations and exports its products to Europe, Asia, Africa, Australia and the USA. Bulgaria is among the world's biggest producers of lavender oil.
(1 euro = 1.95583 levs)