Bulgaria’s Neochim non-cons profit more than quadruples in Jan-Sept

Revenue in the review period soared to 501.4 million levs from 196.3 million levs a year earlier, the company said in an interim financial statement.

The fertiliser maker, which uses natural gas as its main raw material, saw its expenses jump to 424.8 million levs from 179.9 million levs. The increase was mainly due to costs of materials, which surged to 363.7 million levs from 122.2 million levs.

Neochim also said on Friday that it is starting a process to resume the production of ammonia and ammonium bicarbonate after it recently completed annual maintenance works.

As at 1448 CEST on Friday, shares in Neochim traded 10.1% higher at a price of 45.80 levs on the Bulgarian Stock Exchange, bourse data showed.

(1 euro = 1.95583 levs)