Bulgaria's Yuri Gagarin 9-mo sales up 2.5%

In September alone, Yuri Gagarin’s sales revenue totalled 3.5 million levs, down 25% year-on-year, the company said in a statement to the Sofia bourse.

In early July, the company ceased the production of filter cartridges in compliance with a newly adopted bill which prohibits their production and sale. Filter cartridges production, in which the company has invested over 5.0 million euro ($6.5 million), was an essential part of its activity. At the end of August, Yuri Gagarin also announced it has decided to revoke the contract for the acquisition of FILSTYLE-Hungary Kft, through which it aimed to expand its activities and to export some of its products to Hungary.

Besides cigarette filters, Plovdiv-based Yuri Gagarin (www.gagarin.eu) produces cigarette packaging and printing products.

(1 euro=1.95583 Bulgarian levs)