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Bulgaria's Monbat 10-mo cons pre-tax profit soars

Bulgaria's Monbat 10-mo cons pre-tax profit soars Author: Monbat / License: All rights reserved.

SOFIA (Bulgaria), November 25 (SeeNews) - Bulgarian car battery maker Monbat [BUL:5MB] said on Monday that its consolidated profit before taxes increased by 163% on the year to 16.4 million levs ($9.2 million/8.4 million euro) in the first ten months of 2019.

The company’s consolidated net sales revenue rose by 12.4% year-on-year to 276.7 million levs in January-October, Monbat said in a bourse filing.

Monbat’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA), excluding discontinued operations, increased by an annual 42.1% to 31.2 million levs in the period under review.

In October alone, Monbat's profit before taxes edged down by 0.3% year-on-year to 2 million levs, despite a 19.4% rise in revenue to 39.0 million levs.

Monbat's shares closed 0.79% lower at 6.30 levs on the Bulgarian Stock Exchange on Monday.

(1 euro = 1.95583 levs)