April 27 (SeeNews) - Cosmetics producer Bulgarian Rose [BUL: ROZA] said on Tuesday that its net profit fell to 14,000 levs ($8,600/7,200 euro) in the first three months of 2021 from 72,000 levs in the same period of 2020.
Bulgarian Rose generated 665,000 levs in revenue in the January-March period of this year, down from about 1.1 million levs in the comparable period of last year, the company said in an interim financial statement.
The company's expenses fell to 651,000 levs in the first quarter from 986,000 levs a year earlier, mostly due to decreases in expenses for materials and salaries.
Karlovo-based Bulgarian Rose, established in 1948, manufactures cosmetic products for face, body, and hair using rose oil and locally-grown herbs. The company is part of blue-chip industrial group Stara Planina Hold [BUL:SPH].
(1 euro = 1.95583 levs)