May 28 (SeeNews) - Bulgarian car battery manufacturer Monbat [BUL:5MB] said that its consolidated profit before taxes soared by 350.8% on the year to 8.1 million levs ($4.6 million/4.1 million euro) in the first four months of 2019.
The company’s consolidated net sales revenue rose by 29.5% year-on-year to 111 million levs in January-April, mostly on the back of revenues from production, Monbat said in an interim financial statement on Monday.
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Monbat’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by an annual 77.6% to 14.7 million levs in the period under review.
In April alone, Monbat generated a pre-tax profit of 770,000 levs, 336.9% higher compared to the same month of 2018. Net sales revenue increased by an annual 50.9% to 27.5 million levs, whereas EBITDA more than doubled by 167.8% on the year to 2,922 levs.
As at 11:15 CET on Tuesday, Monbat shares traded 3.17% higher at 6.50 levs on the Bulgarian Stock Exchange.
Monbat's consolidated net profit shrank to 2.8 million levs last year from 31.2 million levs in 2017 due to a drop in revenue by 9.5% to 298.1 million levs.
(1 euro = 1.95583 levs)