March 30 (SeeNews) - Bulgarian battery maker Monbat [BUL:5MB] said that the workflow at its two plants in the towns of Montana and Dobrich is thus far unaffected by the ongoing novel coronavirus disease (COVID-19) pandemic.
All sanitary and hygienic measures have been taken to protect the health of the company's employees during the crisis, the company said in a bourse filing after trading hours on Friday.
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Last week, Monbat reported that that its consolidated profit before taxes from ongoing operations dropped by 54.2% to 1.9 million levs ($1.1 million/1 million euro) in the first two months of the year, as net sales revenue fell 12.7% to 49.6 million levs. The company's reported results exclude its LED lighting operations.
Earlier this month,Monbat asked for suspension of trading with both its share and bond issues on the Sofia bourse in relation to the state of emergency declared by the country on March 13 over the coronavirus pandemic, but its request was denied by the bourse operator.
A lot of companies in the sector have already suspended operations due to the pandemic, including local peer Elhim Iskra [BUL:52E], and the Bulgarian units of German vehicle access systems manufacturer WITTE Automotive and French auto parts manufacturer Montupet.
(1 euro = 1.95583 levs)