October 7 (SeeNews) - Bulgarian organic products maker and distributor Smart Organic [BUL:SO] said its consolidated sales revenue jumped by 21% on the year to 14.4 million levs ($7.21 million/7.36 million euro) in the third quarter of 2022, according to preliminary figures.
The company registered annual sales growth of 19% in the first nine months of the year, it said in a bourse filing on Thursday.
Smart Organic added that it completed a second building on its site in Sofia during the third quarter. The company will no longer hire the warehouse it uses for deliveries in Bulgaria. Additionally, it will significantly reduce the quantity of raw materials kept in third-party's warehouses. As a result, Smart Organic expects savings of about 50,000 levs per month.
Based on a solid order backlog and increased demand, the company anticipates favourable financial performance in the fourth quarter.
Smart Organic said that it is currently working on orders for its new product - pralines with tahini filling - from several customers in Germany. The company will start making the product in a separate workshop in the new building, increasing capacity.
(1 euro = 1.95583 levs)