November 29 (SeeNews) - Bulgarian fertiliser producer Neochim [BUL:3NB] said on Friday that its consolidated net loss narrowed to 9.1 million levs ($5.1 million/4.6 million euro) in the first nine months of 2019 from 21.6 million levs in the same period of last year.
Neochim grew its revenue to 202.2 million levs in January-September, from 143.0 million levs in the comparable period of 2018, backed by increased exports, it said in an interim financial statement.
The company's exports rose to 132.7 million levs in the period under review, from 76.8 million levs a year earlier. Domestic sales increased to 64.7 million levs from 61.9 million levs.
Operating expenses grew to 211.3 million levs, from 164.6 million levs. Expenses for materials jumped to 143 million levs from 101.1 million levs.
The company's assets fell to 125.8 million levs at the end of September, from 136.6 million levs a year earlier.
Neochim consolidates the results of local Neochim Protect and Turkey-registered Neochim Taram.
At the end of September, local Eco Tech was Neochim's largest shareholder with a 24.28% stake. Euro Fert and Feboran followed with shareholding interest of 24.03% and 20.30%, respectively.
(1 euro = 1.95583 levs)