August 28 (SeeNews) - Bulgarian car battery manufacturer Monbat [BUL:5MB] said that its consolidated pre-tax profit fell by 73.5% year-on-year to 3.9 million levs ($2.3 million/2.0 million euro) in the first seven months of 2018.
Monbat’s earnings before interest, taxes, depreciation and amortisation (EBITDA) decreased by an annual 32% to 16.6 million levs in January-July, Monbat said in a statement.
The company’s consolidated net sales revenue declined 7.5% year-on-year to 160.8 million levs in the period under review.
In July alone, Monbat posted a pre-tax profit of 407,000 levs, 34.9% lower on the year, despite a 6.8% rise in net sales revenue, which amounted to 24.5 million levs during the month.
(1 euro = 1.95583 levs)