Adris, Ericsson Nikola Tesla push higher Croatian share indices
Sales of new dwellings in Bosnia's Federation up 1.2% in 2023
Ljubljana share indices decline, Cinkarna Celje paces losers
Sales of new dwellings in Bosnia up 26.3% y/y in Q4
Romanian stock indices turn red, Electrica leads decliners
Nov 22, 2023 16:40 EEST
November 22 (SeeNews) - Bulgarian sugar and ethanol producer Zaharni Zavodi [BUL:ZHZA] said on Wednesday that its consolidated net profit slumped to some 4.5 million levs ($2.5 million/2.3 million euro) in the nine months through September from 27.5 million levs in the same period of 2022, chiefly due to higher expenses.
The company’s revenue jumped to 201.8 million levs in January-September from 167.2 million levs in the prior-year period, Zaharni Zavodi said in an interim financial statement.
Product sales grew by an annual 29% to 185.4 million levs in the first nine months of 2023, whereas sales of goods went down 33% to 12.5 million levs.
Meanwhile, Zaharni Zavodi's operating expenses expanded to 197.3 million levs in the review period from 139.8 million levs a year earlier on the back of a 15% rise in costs for materials to some 135 million levs and a change in inventory.
In August, Bulgaria's financial regulator issued a definitive ban for the filing of a revised tender offer for the full takeover of Zaharni Zavodi by majority shareholder Zahar Invest.
Gorna Oryahovitsa-based Zaharni Zavodi operates several production facilities, including a sugar refinery and a confectionery plant.
Shares in Zaharni Zavodi last traded on November 3 when they closed at 5.00 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options