May 28 (SeeNews) - Bulgarian fertilizer producer Neochim [BUL:3NB] said on Monday that its consolidated net profit fell to 7.9 million levs ($4.7 million/4.0 million euro) in the first quarter from 15.4 million levs in the same period of 2017.
The company's operating revenue fell to 66.5 million levs in January-March from 68.2 million levs in the first three months of last year, Neochim said in an interim financial statement.
Neochim's operating expenses grew to 58.6 million levs in the quarter under review from 52.8 million levs the year before, as expenses for materials increased to 51.1 million levs from 42.1 million levs.
Last month, Neochim said it expects its non-consolidated sales revenue to amount to 254.7 million levs this year.
(1 euro = 1.95583 levs)