You have 5 free articles left this month. Get your free Basic subscription now and gain instant access to more.

Bulgaria's Lavena 9-mo cons net profit, revenue fall

Bulgaria's Lavena 9-mo cons net profit, revenue fall Lavena / All rights reserved.

SOFIA (Bulgaria), November 25 (SeeNews) - Bulgarian cosmetics producer Lavena [BUL:LAV] said on Thursday that its consolidated net profit fell to 2 million levs ($1.1 million/1.0 million euro) in the first nine months of 2021, from some 2.4 million levs in the same period of last year.

Lavena's revenue went down to some 16 million levs in the January-September period from 16.7 million levs in the first nine months of 2020, the company said in an interim financial statement.

At the same time, expenses decreased to some 13.9 million levs from 14.1 million levs in the corresponding period of last year.

Last year, Lavena received some 1 million levs in EU financing for the purchase of new equipment. Due to unexpected circumstances caused by the coronavirus pandemic, the investment project is expected to be completed by the end of 2021, the company said.

As at 12:40 CET on Thursday, Lavena's shares traded flat at 3.74 levs on the Bulgarian Stock Exchange, bourse data showed.

(1 euro = 1.95583 levs)