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Bulgaria's Mak boosts 9-mo cons net profit on higher revenue

Bulgaria's Mak boosts 9-mo cons net profit on higher revenue Ken Teegardin/CC BY-SA 2.0

SOFIA (Bulgaria), December 1 (SeeNews) - Bulgarian textile company Mak [BUL:4MK] said that its consolidated net profit rose to 3.3 million levs ($2.0 million/1.7 million euro) in the first nine months of 2020, compared with 2.1 million levs in the same period of 2019.

Mak's revenue increased to just over 18 million levs in January-September, from some 14 million levs in the comparable period of last year, the company said in an interim financial statement published last week.

The company's expenses amounted to 14.8 million levs in the review period, up from 11.9 million levs the year before, mostly due to an increase in expenses for materials.

Gabrovo-based Mak specialises in the production of police, firefighter and military uniforms, and has a portfolio of over 400 products. Earlier this year, Mak launched production of protective clothing for healthcare workers in view of the shortage caused by the coronavirus pandemic.

(1 euro = 1.95583 levs)

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