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Bulgaria's Monbat more than halves H1 non-cons net profit, ups revenue

Author Mario Tanev
Bulgaria's Monbat more than halves H1 non-cons net profit, ups revenue Author: Monbat / License: All rights reserved.

SOFIA (Bulgaria), July 31 (SeeNews) - Bulgarian car battery maker Monbat [BUL:5MB] said that its non-consolidated net profit more than halved to 4.8 million levs ($2.7 million/2.5 million euro) in the first half of 2019 from 9.9 million levs in the same period of 2018.

Monbat's revenue rose to 171.9 million levs in the January-June period of the year from 164.5 million levs in the comparable period of 2018, the company said in an interim financial statement on Tuesday.

The company booked 75.23% of its sales abroad, as its largest markets in the review period were Germany and France, which accounted for 11.40% and 10.63% of its total exports, respectively.

Operating expenses grew to 166.5 million levs in the review period from 154.3 million levs the year before, as expenses for materials increased to 89.4 million levs from 83.8 million levs.

Monbat's assets amounted to 350.3 million levs at the end of June, down from 361.7 million levs a year earlier.

As at 12:45 CET on Wednesday, Monbat shares traded at 6.75 levs, unchanged from their previous closing price on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)

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