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Sep 17, 2019 09:46 EEST
September 17 (SeeNews) - Bulgarian welded parts and industrial machinery producer Sparky [BUL:SPV], part of local Sparky Group, said that it turned to a consolidated net profit of 133,000 levs ($75,000/68,000 euro) in the first half of 2019 from a net loss of 278,000 levs in the same period of 2018.
Sparky grew its revenue to 13.2 million levs in the January-June period of 2019 from 12.9 million levs in the comparable period of last year, the company said in an interim financial statement.
Operating expenses edged down to some 13.1 million levs in the review period from 13.2 million levs the year before, as expenses for materials fell to 7.1 million levs from 7.4 million levs.
At the end of June, the company's current liabilities continued to outweigh its current assets - 30.1 million levs versus 21.9 million levs. Current assets were mostly formed by receivables from connected companies, while current liabilities mostly comprised loans and payables to suppliers and clients.
(1 euro = 1.95583 levs)
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