Bulgaria's Ideal Standard - Vidima Cons Net Profit Falls in 2017
The consolidated net profit of Bulgarian bathroom sanitary ware producer Ideal Standard-Vidima fell to 2.5 million levs ($1.5 million/1.3 million euro) in 2017 from 3.6 million levs the year before, due to a rise in costs, the company's annual financial statement shows. Ideal Standard-Vidima's expenses for materials grew to 199 million levs last year from 184.9 million levs in 2016, while staff costs increased to 85.2 million levs from 74.3 million levs, according to figures from its financial report. The company's sales revenue rose to 390.9 million levs in 2017, up from 361.6 million levs in 2016, as sales on the domestic market added 4%.In terms of exports, the company signed deals worth over 1 million levs each with 12 new clients. The sales of Ideal Standard products saw a sizable increase both on the domestic market and abroad, the company noted.