Bulgaria's Neochim narrows 9-mo non-cons net loss as exports grow sharply

Neochim grew its revenue to 201.5 million levs in the January-September period of 2019 from 142.1 million levs in the comparable period of last year, backed by increased exports, the company said in an interim financial statement.

The company's sales abroad rose to 132.2 million levs in the first three quarters of the year from 75.9 million levs a year earlier, while domestic sales increased to 64.7 million levs from 61.9 million levs.

Operating expenses grew to 210.7 million levs in the review period from 162 million levs the year before, as expenses for materials jumped to 143 million levs from 101.1 million levs.

At the end of September, local Eco Tech was Neochim's largest shareholder with a 24.28% stake. Euro Fert and Feboran followed with interest of 24.03% and 20.30%, respectively.

(1 euro = 1.95583 levs)