Bulgaria's Neochim pares Q1 non-cons net loss

The company's total revenue in the review period plunged to 55.75 million levs from 108.7 million levs in the first three months of 2023, Neochim said in an interim financial statement. Sales of products more than halved to 50.9 million levs from 104.5 million levs.

The fertiliser maker, which uses natural gas as its main raw material, posted a 48% annual drop in operating expenses to 61.4 million levs. The decline was mainly due to lower costs for materials, which shrank to 14.7 million levs from some 89.8 million levs.

Neochim's loss per share at the end of March stood at 2.18 levs against 3.81 levs a year earlier.

As of 1500 CEST on Friday, shares in Neochim traded 10.00% higher at 19.80 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)