Bulgaria’s Zaharni Zavodi boosts 9-mo non-cons net profit

Revenue in the January-September period jumped to 64.9 million levs from 48.2 million levs in the same period of the prior year, the company said in an interim financial statement last week.

The strong performance was mainly due to a rise in product sales of 35.6% year-on-year to 57.04 million levs. Of total sales, 56.49% were generated on the Bulgarian market and 34.39% in the EU market. The remaining 9.12% came from markets outside the EU.

Operating expenses increased to 58 million levs from 45.1 million levs as costs of materials surged to 43.6 million levs from 28.5 million levs.

Gorna Oryahovitsa-based Zaharni Zavodi operates several production facilities, including a sugar refinery and a confectionery plant.

Shares in the company last traded at 3.14 levs on the Bulgarian Stock Exchange's BaSE market, bourse data showed.

(1 euro = 1.95583 levs)