Blagoevgrad plans to invest some 12.723 mln leva (6.5 mln euros) this year, its report filed with BSE revealed.

The company will finance its projects with own funds, however, using an investment credit for some of the projects is also an option.

The main objectives are lowering the production prime cost, as well as energy costs, improving environmental sustainability and labor conditions, etc.

Last year the company invested a total of 11.56 mln leva (5.91 mln euros).

2007 sales revenues reached 211.617 mln leva (108 mln euros), against 159.112 ml leva (81.3 mln euros) in 2006. After-tax profit came to 30.034 mln leva (15.35 mln euros), versus 7.916 mln leva (4.04 mln euros) in the preceding year.

As of December 31, 2007 the company had sold some 12.106 billion cigarettes on the domestic market (2.617 billion up from 2006). Tobacco sales amounted to 6,400 tonnes worth 17.372 million leva.

Production capacity per person rose 36.9% compared with 2006, and cigarette production was by 2.498 million above 2006.

Bulgartabac Holding controls 85.24% of the capital, UBS AG has 5%.

Photo: BGNES