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Oct 30, 2017 16:29 EEST
SOFIA (Bulgaria), October 30 (SeeNews) – Bulgarian paper and cardboard packaging producer Unipack [BUL:3U9] said on Monday its net profit fell to 23,000 levs ($13,660/11,760 euro) in the first nine months of 2017 from 528,000 levs in the like period of last year.
Unipack’s operating revenue rose to 21.6 million levs in January-September, compared to 19.1 million levs in the corresponding period of 2016, Unipack said in an interim financial report.
Operating expenses increased to 21.6 million levs in the period under review from 18.5 million levs the year before.
Last week, Unipack said it has submitted a request to the Financial Supervision Commission (FSC) to be delisted from the Sofia bourse.
Last month, Unipack’s majority owner Fort acquired all 67,939 shares of Unipack it did not already own at a price of 9.84 levs apiece in a squeeze out bid. In June, Fort raised its stake in the company to 96.69% from 94.6% in a buyout bid, acquiring 47,108 shares at a price of 9.84 levs each.
Unipack AD, founded in 1967, produces packaging and paper materials. It is based in the town of Pavlikeni, in northern Bulgaria.
(1 euro=1.95583 levs)
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