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Heating radiator maker Korado Bulgaria's 2017 net profit rises

Author Mario Tanev
Heating radiator maker Korado Bulgaria's 2017 net profit rises Korado Bulgaria/All rights reserved.

SOFIA (Bulgaria), January 30 (SeeNews) - Radiator maker Korado Bulgaria [BUL:4KX], part of Czech Korado Group, said on Tuesday its net profit rose to 5.3 million levs ($3.3 million/2.7 million euro) in 2017 from 2.9 million levs the year before.

Total operating revenue grew to 42.6 million levs last year, compared to 32.8 million levs in 2016, the company said in a bourse filing.

Operating expenses increased to 37.3 million levs in 2017 from 29.5 million levs in the previous year.

Korado Bulgaria was registered in 1998 when the Czech company acquired 98.2% of the originally German-Bulgarian steel radiators production plant in Strazhitsa. The plant exports its output to the markets of Romania, Ukraine, France, Hungary and Bosnia.

(1 euro = 1.95583 levs)

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