May 26 (SeeNews) - Bulgarian cosmetics producer Lavena [BUL:LAV] said on Friday that its consolidated net profit edged down to 289,000 levs ($158,624/147,763 euro) in the first quarter of 2023 from 299,000 levs in the like period of last year.
Lavena's operating revenue grew to 5.5 million levs in the January-March period from 4.4 million levs a year earlier, the company said in an interim financial statement. Product sales in the review period added 21% on the year to 5.2 million levs.
At the same time, expenses widened to some 5.2 million levs from 4.1 million levs in the corresponding period of last year, mainly due to a 36% increase in costs for materials.
Last month, the company reported a standalone net profit of 229,000 levs for the first quarter of 2023, down from 342,000 levs a year earlier.
As of 1130 CET on Friday, shares in Lavena traded 23.68% lower at 1.45 levs on the BaSE market of the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)