April 27 (SeeNews) - Bulgarian cosmetics producer Lavena [BUL:LAV] said on Thursday that its standalone net profit fell to 229,000 levs ($129,251/117,085 euro) in the first quarter of 2023 from 342,000 levs in the same period of last year.
Lavena's revenue went up by an annual 24% to some 5.5 million levs in the first three months of this year, the company said in an interim financial statement.
At the same time, the company's operating expenses rose to 5.2 million levs in January-March from 4.1 million levs a year earlier, chiefly due to 36% higher costs for materials.
Lavena's earnings per share dropped by 33% on the year to 0.023 levs in the review period.
Shares in Lavena last traded at 1.45 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)