July 26 (SeeNews) - Bulgarian car battery maker Monbat [BUL:5MB] said on Friday that its consolidated profit before taxes soared by 168.1% on the year to 7.79 million levs ($4.4 million/4.0 million euro) in the first six months of 2019.
The company’s consolidated net sales revenue rose by 16.40% year-on-year to 158.6 million levs in January-June, Monbat said in a bourse filing.
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Monbat’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA), excluding discontinued operations, increased by an annual 47.9% to 18.46 million levs in the period under review.
In June alone, Monbat generated a pre-tax loss of 929,000 levs as revenue fell 15.5% to 21.0 million levs. The company's financial performance in June was affected by a partial halt of production activities due to planned repair of its recycling facilities, and a drop in global lead prices.
(1 euro = 1.95583 levs)