The company's sales revenue rose 77% on the year to nearly 260 million levs.
"The plant has been operational longer time this year as the annual capital repairs were launched at the end of August and in previous years - in May-June," the company's investor relations director Alexander Ganev told SeeNews.
Higher domestic demand for fertilizers also helped the company raise profit and gain more market share, he added but gave no market share estimate.
The plant will resume operations next month as the first trial launches are scheduled to begin by November 10, Ganev said.
Following are details from the company's income statement filed with the Bulgarian Stock Exchange (in millions of levs):
Jan-Sept'08 | Jan-Sept'07 | 2007 | |
NET PROFIT | 53.937 | 1.899 | 3.008 |
PRE-TAX PROFIT | 53.937 | 1.899 | 3.355 |
SALES REVENUE | 259.925 | 147.144 | 184.861 |
TOTAL REVENUE | 260.553 | 147.478 | 185.361 |
TOTAL COSTS | 206.616 | 145.579 | 182.006 |
Neochim (www.neochim.bg), headquartered in the southeastern town of Dimitrovgrad, produces nitric acid, ammonium nitrate, ammonia, carbon dioxide, sodium nitrate and mixed fertilisers, among others. It produces some 630,000 tonnes of ammonium nitrate a year, equal to 60% of Bulgaria's overall output of the chemical.
Shares in the company closed at 63 levs on Monday, down 6.1% from the previous close. The statement was released after the end of trading.
(1 euro = 1.95583 Bulgarian levs)