Bulgaria's Monbat Cuts Pre-Tax Profit 66.2% in Jan-Sept

Bulgaria's Monbat Cuts Pre-Tax Profit 66.2% in Jan-Sept

Bulgarian battery manufacturer Monbat  said on Thursday that its consolidated pre-tax profit fell by 66.2% year-on-year to 6.2 million levs ($3.6 million/3.2 million euro) in the first nine months of 2018.Monbat’s earnings before interest, taxes, depreciation and amortisation (EBITDA) declined by an annual 27.6% to 22.1 million levs in January-September, Monbat said in a statement. The company’s consolidated net sales revenue decreased 6.3% on the year to 213.6 million levs in the period under review.In September alone, Monbat posted a pre-tax profit of 1.25 million levs, 43.7% lower on the year, after a 30.5% drop in net sales revenue, which amounted to 22.2 million levs during the month.Earlier this month, Monbat said that it expects to end the year with revenue of 160.1 million euro and a gross profit of 37.1 million euro.(1 euro = 1.95583 levs)

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