You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Bulgaria's Lavena lifts H1 non-cons net profit, revenue

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

SOFIA (Bulgaria), July 30 (SeeNews) - Bulgarian cosmetics maker Lavena [BUL:4L4] said that its non-consolidated net profit rose to 896,000 levs ($511,000/458,000 euro) in the first half of 2019 from 619,000 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 on Monday.

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 4.3 million levs from 3.6 million levs.

Lavena's assets amounted to 30.8 million levs at the end of June, slightly up from 30.0 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)