Bulgaria's MonBat Jan-Sept cons pre-tax profit rises 7.6% y/y

Bulgaria's MonBat Jan-Sept cons pre-tax profit rises 7.6% y/y wavebreakmedia/Shutterstock.com

SOFIA (Bulgaria), October 25 (SeeNews) - Bulgarian car battery maker MonBat [BUL:5MB] said on Tuesday its January-September consolidated pre-tax profit grew by 7.6% year-on-year, reaching 21.6 million levs ($12 million/11 million euro).

MonBat's consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 8.7% on the year to 33 million levs for the nine-month period, the company said in a statement.

Consolidated net sales revenues increased by 1.4% year-on-year to 179.4 million levs for the nine months ended September 2016.

In September alone, the company's pre-tax profit rose by an annual 2.6%, reaching 2.1 million levs, and EBITDA jumped 9.1% to 3.6 million levs. Net sales revenue increased 18.9% to 25.4 million levs.

MonBat shares closed at 7.887 levs on the Bulgarian Stock Exchange (BSE) on Tuesday, down 0.14% 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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