Bulgaria's Lavena 9-mo non-cons net profit falls on higher expenses

Lavena's revenue increased to some 16.9 million levs in the first three quarters of 2022 from 15.7 million levs a year earlier, the company said in an interim financial statement on Friday.

By contrast, the company's expenses rose 14% year-on-year during January-September to 15.4 million levs, mostly due to costs for raw materials adding 15%.

Lavena's earnings per share erased 34% year-on-year in the review period, to 0.125 levs.

In June, Lavena's shareholders approved the distribution of a gross dividend of 0.02 levs per share for 2021, down from 0.03 levs per share distributed for 2020.

As at 1508 CET on Wednesday, shares in Lavena traded flat at 3.62 levs on the floor of the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)