Bulgaria's Mak Q1 non-cons net profit slumps 62% y/y

The company’s total revenue nearly halved to 9.29 million levs in January-March from some 18.1 million levs in the prior-year period, Mak said in an interim financial statement.

Sales to EU countries plunged to some 5 million levs in the review period from 8.9 million levs a year earlier, while domestic sales sank to 4.27 million levs from 9.08 million levs.

At the same time, the company's operating expenses shrank to 8.36 million levs from 15.65 million levs on the back of lower costs of goods sold, which went down to 4.35 million levs from 8.54 million levs.

Gabrovo-based Mak makes raw fabrics, along with ready-to-wear garments like military and police uniforms, workwear, and leisure and sportswear.

Shares in Mak last traded on Tuesday when they closed at 100.00 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)