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Cosmetics maker Bulgarian Rose's Aug sales exceed fcast fivefold

Author Mario Tanev
Cosmetics maker Bulgarian Rose's Aug sales exceed fcast fivefold Author: Bulgarian Rose / All rights reserved.

SOFIA (Bulgaria), September 20 (SeeNews) - Cosmetics producer Bulgarian Rose [BUL:4BH] said on Friday that it pocketed sales revenue of 1.82 million levs ($1.0 million/931,000 euro) in August, sharply exceeding its forecast for 302,000 levs in monthly revenue.

The company's accumulated sales in the first eight months of the year amounted to 4.47 million levs, Bulgarian Rose said in a bourse filing.

Bulgarian Rose generated revenue of 3.83 million levs in the January-August period of 2018, according to previously reported data.

Sales in September are projected at 302,000 levs, down from the company's September 2018 sales of 632,000 levs, reported previously.

In July, 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)