Cosmetics producer Bulgarian Rose's 9-mo net profit falls on higher costs

The company’s operating expenses expanded to 3.71 million levs from the prior-year's 2.59 million levs, Bulgarian Rose said in an interim financial statement.

The rise was mainly driven by costs of materials which jumped to 1.46 million levs from 684,000 levs.

The company’s revenue increased to 4.02 million levs from 2.99 million levs as product sales expanded to 3.54 million levs from 2.58 million levs. Exports formed 27.97% of product sales compared with 29.38% a year earlier, the company said.

Shares in the cosmetics producer last traded at 1.59 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data showed.

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 local blue-chip industrial group Stara Planina Hold [BUL:SPH].

(1 euro = 1.95583 levs)