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Bulgaria's MonBat Jan-Nov cons pre-tax profit rises as sales increase

Bulgaria's MonBat Jan-Nov cons pre-tax profit rises as sales increase wavebreakmedia/Shutterstock.com

SOFIA (Bulgaria), December 23 (SeeNews) - Bulgarian car battery maker MonBat [BUL:5MB] said on Friday its January-November consolidated pre-tax profit grew by 22.4% year-on-year, reaching 29.8 million levs ($15.9 million/15.2 million euro).

MonBat's consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 20.2% on the year to 44.2 million levs in the first eleven months of 2016, the company said in a statement.

Consolidated net sales revenues increased by 4.7% year-on-year, reaching 235 million levs in January-November.

In November alone, the company's pre-tax profit rose by an annual 47.2%, reaching 5.1 million levs. EBITDA jumped 46% to 6.6 million levs.

November net sales revenue increased 20% year-on-year to 28.8 million levs.

MonBat's shares did not trade on Friday as of 13:50 CET. They closed at 9.522 levs on the Bulgarian Stock Exchange (BSE) on Thursday, down 1.73% from the previous close.

MonBat operates four plants for manufacturing and recycling of lead-acid batteries, diodes and light-emitting diode luminaires.

(1 euro=1.95583 levs)

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