Bulgaria's Mak raises cons net profit, revenue in 2021

Mak's operating revenue rose to some 31.7 million levs last year from 25.7 million levs in 2020, the company said in an annual financial statement on Friday.

The company's sales revenue increased by 23% to 31.1 million levs last year. Sales of fabrics and clothing added 36% on the year to 30.5 million levs.

Sales to foreign markets within Europe stood at 77.9% of the total sales, up from 47.4% in 2020. Mak said the increase is due to tender orders in Germany and Austria, as well as consequences from the COVID-19 pandemic.

Mak’s operating expenses also went up in the period under review – to 26.9 million levs from 21.9 million levs.

Mak's assets amounted to 32.3 million levs at the end of 2021, up from 29.9 million levs at the end of 2020.

Shares in Mak last traded at 31 levs on the Sofia bourse’s BaSE market.

Gabrovo-based Mak specialises in the production of police, firefighter and military uniforms. It has a portfolio of over 400 products.

(1 euro = 1.95583 levs)