May 30 (SeeNews) - Bulgarian textile company Mak [BUL:MAK] said on Tuesday that its consolidated net profit surged to 3.7 million levs ($2 million/1.9 million euro) in the first quarter of 2023 from 370,000 levs a year earlier.
The company’s revenue jumped to 14.6 million levs in January-March from 4.1 million levs in the comparable period of 2022, Mak said in an interim financial statement. Domestic sales in the review period grew to 5.2 million levs from 1.7 million levs in the first quarter of last year, while sales abroad went up to 9.3 million levs from 2.3 million levs.
Operating expenses widened to 10.9 million levs from 3.7 million levs, chiefly due to higher costs for materials and hired services.
Gabrovo-based Mak specialises in the production of police, firefighter and military uniforms. It has a portfolio of over 400 products, including healthcare garments.
Shares in Mak last traded at 31.00 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)