January 22 (SeeNews) - Cosmetics producer Bulgarian Rose [BUL:4BH] said that its sales revenue fell by an annual 8.64% to some 6 million levs ($3.4 million/3.1 million euro) in 2019.
In December alone, Bulgarian Rose generated sales of 348,000 levs - slightly above its forecast for 329,000 levs in monthly sales, the company said in a bourse filing on Wednesday.
Bulgarian Rose expects to generate revenue of 295,000 levs in January, up from its previously reported sales of 172,000 levs in January 2019.
Last year, Bulgarian Rose terminated its deal with Beijing Fangcaoziyan Cosmetics Trading Co. for exports of cosmetic products and rose oil due to the Chinese company's systemic failure to adhere to the agreement.
Karlovo-based Bulgarian Rose, established in 1948, manufactures cosmetic products for face, body, and hair using rose oil and locally-grown herbs.
Bulgarian Rose, part of blue-chip industrial group Stara Planina Hold [BUL:5SR], has stores in nine cities across Bulgaria.
(1 euro = 1.95583 levs)