April 23 (SeeNews) - Bulgarian printing and advertising company Billboard [BUL:5BP] said on Tuesday that its non-consolidated net profit fell to 85,000 levs ($49,000/43,000 euro) in the first quarter of the year from 195,000 levs in the same period of last year.
The company's total revenue fell to 1.82 million levs in the January-March period of this year from 1.95 million levs in the corresponding period of 2018, Billboard said in an interim financial statement.
Billboard's expenses edged down to 1.74 million levs in the review period from 1.76 million levs a year earlier.
Earlier this year, Billboard signed a 2.8 million levs loan deal with state-owned Bulgarian Development Bank (BDB). The company plans to use the proceeds of the loan to finance the purchase of printing equipment, as well as the acquisition of industrial and office properties in Varna from Bulgarian company Digital Print, Billboard said at the time.
Billboard, established in 2001, offers wide format digital printing, offset printing and branding of vehicles.
(1 euro = 1.95583 levs)