Bulgaria's Lavena Q1 non-cons net profit more than doubles

Lavena's overall revenue went up by 11% on the year to some 6.1 million levs in January-March, the company said in an interim financial statement. Sales of products generated 5.9 million levs, up 13% in annual terms.

Over the same period, Lavena's operating expenses widened to some 5.5 million levs from 5.2 million levs a year earlier, mostly on the back of higher costs for remuneration and a change in inventory.

Lavena's earnings per share surged to 0.053 levs in the review period from 0.023 in the first quarter of 2023.

Shares in Lavena last traded on Monday when they closed at 1.67 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)