October 24 (SeeNews) - Bulgarian textile company Mak [BUL:4MK] said on Thursday that its non-consolidated net profit jumped over five times to 2.6 million levs ($1.5 million/1.3 million euro) in the first nine months of 2019 from 512,000 levs in the same period of 2018.
Mak's total revenue grew to 18.6 million levs in the January-September period of 2019 from 12.5 million levs in the comparable period of last year, the company said in an interim financial statement.
Sales revenue amounted to 17.2 million levs, 54.2% of which was booked on foreign markets in Europe.
The company's operating expenses increased to 16 million levs in the review period from 12 million levs the year before. Cost of goods sold rose to 7.8 million levs in January-September from 5.2 million levs in the like period of 2018, while expenses for materials grew to 5.3 million levs from 4.3 million levs.
Mak's largest shareholder at the end of September was local company Dyuker, which in turn is owned by three private individuals - Georgi Bizhev, Dimitar Bizhev, and Dilyana Bizheva. Georgi Bizhev also holds a 7.16% stake in Mak directly.
Gabrovo-based Mak specialises in the production of police, firefighter and military uniforms, and has a portfolio of over 400 products.
(1 euro = 1.95583 levs)