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Bulgaria's Monbat nearly halves 9-mo non-cons net profit

Author Mario Tanev
Bulgaria's Monbat nearly halves 9-mo non-cons net profit Author: Monbat / License: All rights reserved.

SOFIA (Bulgaria), October 30 (SeeNews) - Bulgarian car battery maker Monbat [BUL:5MB] said on Wednesday that its non-consolidated net profit nearly halved to 6.6 million levs ($3.8 million/3.4 million euro) in the January-September period of 2019 from 11.4 million levs in the same period of 2018.

Monbat's revenue edged down to 258.6 million levs in the first nine months of 2019 from 259.5 million levs in the comparable period of 2018, the company said in an interim financial statement.

Monbat booked 75.3% of its sales revenue from exports. Germany was the company's largest market, accounting for 11.43% of Monbat's sales abroad.

The company's expenses rose to 251.3 million levs in the review period from 247.6 million levs the year before, due to an increase in expenses for materials.

As at 15:00 CET on Wednesday, Monbat shares traded 0.79% lower at 6.25 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)