Bulgaria's Lavena Halves 9-Mo Non-Cons Net Profit on Drop in Revenue

Bulgaria's Lavena Halves 9-Mo Non-Cons Net Profit on Drop in Revenue

Bulgarian lavender oil and cosmetics producer Lavena said on Wednesday that its non-consolidated net profit fell to 929,000 levs ($548,200/475,000 euro) in the first nine months of the year from 2.0 million levs in the same period of 2017. The company's operating revenue declined to 12.9 million levs in the January-September period from 14.6 million levs in the comparable period of last year, Lavena said in an interim financial statement.Lavena's operating expenses decreased to 11.9 million levs in the review period from 12.4 million levs the year before, as expenses for materials fell to 6.5 million levs from 7.9 million levs a year earlier. In August, Lavena increased its capital to 8.3 million levs from 319,981 levs via a bonus share issue. Existing shareholders received 25 new shares for each Lavena share they owned before the increase.Established in 1962, Lavena owns lavender plantations and exports its products to Europe, Asia, Africa, Australia and the U.S. Bulgaria is among the world's biggest producers of lavender oil.(1 euro = 1.95583 levs)

Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.