Bulgaria's Monbat 9-mo non-cons net profit falls 47% y/y

Monbat's total non-consolidated revenue amounted to 236.6 million levs in the January-September period against 245.1 million levs a year earlier, the company said in an interim financial statement on Monday.

Revenue from sales was flattish year-on-year, edging down by 0.62% to 232.4 million levs.

Monbat's expenses went down to 233.9 million levs from 235.3 million levs a year earlier, as costs of materials recorded a 6.4% annual decline to 142.7 million levs. At the same time, salary costs went up 13.6% on the year to 11.7 million levs.

At 109.1 million euro ($115.2 million), exports accounted for 92% of the company's total sales revenue in the nine months through September. Germany remained Monbat's largest market in the review period, contributing 10.4% of total standalone export revenue, or some 11.4 million euro. France, Italy, Spain and Romania rounded off the company's top five export destinations.

Monbat had no sales in Russia in the first nine months, while sales in Ukraine increased to 4.75% in January-September from 0.4% at the same time last year.

Shares in Monbat closed flat at 4.14 levs on the Bulgarian Stock Exchange on Tuesday, bourse data show.

(1 euro = 1.95583 levs)