Bulgarian Arms Trader Kintex Net Profit Edges Down in Q1

Bulgarian Arms Trader Kintex Net Profit Edges Down in Q1

Bulgarian state-owned arms trader Kintex said its net profit slightly fell to 8.6 million levs ($5.3 million/4.4 million euro) in the first quarter, from 9.3 million levs in the corresponding period of last year.The company's operating revenue, which is generated chiefly from exports, fell to 66.1 million levs in the period January-March, from 90.4 million levs in the same quarter last year,  Kintex said in an interim financial report.Total operating expenses fell to 54.5 million levs, from 79.3 million levs in the first quarter of 2018.In 2017, Kintex net profit soared to 16.5 million levs from 1.15 million in the previous year, as its revenues increased fourfold.

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