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Fortenova sells agri unit to Podravka for 333 mln euro
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Bulgaria
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Fortenova sells agri unit to Podravka for 333 mln euro
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Lower revenue, higher expenses drag down Bulgaria's Lavena profit in 2021

Feb 28, 2022, 5:18:40 PMArticle by Vasil Kolchev
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February 28 (SeeNews) - Bulgarian cosmetics producer Lavena [BUL:LAV] said that its consolidated net profit fell to 1.5 million levs ($843,000/748,500 euro) in 2021 from 2.2 million levs the year before, as revenue dropped while expenses increased.

Lower revenue, higher expenses drag down Bulgaria's Lavena profit in 2021
Photo: Lavena

Lavena's revenue fell to 19.2 million levs last year from 19.6 million levs in 2020, the company said in an annual financial statement on Friday.

At the same time, expenses went up to 17.5 million levs from 17.2 million levs.

Shares in Lavena last traded on the Sofia bourse on February 21, when they closed down 12.63% at 3.32 levs.

(1 euro = 1.95583 levs)

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