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Aug 31, 2023 16:47 EEST
August 31 (SeeNews) - Bulgarian textile company Mak [BUL:MAK] said on Thursday that its consolidated net profit surged to 5.9 million levs ($3.3 million/3 million euro) in the first six months of 2023, compared to 825,000 levs in the same period of last year.
Mak's total operating revenue rose to 26.7 million levs in the review period from 9.5 million levs a year earlier, the company said in an interim financial statement.
Expenses also significantly widened, to some 20.7 million levs from 8.7 million levs in the first half of 2022, as costs for materials grew by 41% on the year to 7.9 million levs. Costs for hired services jumped more than threefold to 8.2 million levs.
Gabrovo-based Mak manufactures police, firefighter and military uniforms, and has a portfolio of over 400 products.
Shares in Mak last traded at 36.00 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data showed.
(1 euro = 1.95583 levs)
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