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Bulgaria's Lavena grows H1 cons net profit, revenue

Author Mario Tanev
Bulgaria's Lavena grows H1 cons net profit, revenue Lavena / All rights reserved.

SOFIA (Bulgaria), August 26 (SeeNews) - Bulgarian cosmetics maker Lavena [BUL:4L4] said on Monday that its consolidated net profit rose to 894,000 levs ($508,000/457,000 euro) in the first half of 2019 from 604,000 levs in the same period of 2018.

Lavena's revenue grew to 9.8 million levs in the January-June period of the year from 8.4 million levs in the comparable period of 2018, the company said in an interim financial statement.

The company's expenses increased to 8.8 million levs in the review period from 7.7 million levs the year before, as expenses for materials rose to 4.4 million levs from 3.7 million levs.

Lavena's assets amounted to 31.4 million levs at the end of June, slightly up from 30.6 million levs a year earlier.

In February, Lavena wrapped up a capital increase, raising 5.6 million levs via the issuance of 1,599,904 new shares with a nominal value of 1 lev each. 

(1 euro = 1.95583 levs)