Balkan AD Profit Up to 170,000 leva in First Quarter

Balkan AD-Lovech posted a 170,000 leva profit in the first quarter of 2007 versus 74,000 leva a year ago, the company’s financial report filed to BSE-Sofia shows.

Revenues in the three months, ended 31 March, grew nearly 30% to 2.48 mln leva chiefly due to bigger forklift truck sales. Total costs also increased 25.4% to 2.3 mln leva.

Balkan AD has a core capital of 630,000 leva and its own capital stands at 9.886 mln leva as of 31 March.
The company is a producer of forklift trucks and parts and reactor bicycles. It sells its products both on the domestic and on the international market.

Napredak Holding AD and Merrygold Worldwide Development control 41% and 40.33% of Balkan’s capital.

Balkan’s stock was traded at an average price of 16.50 leva/share today bringing the company’s market capitalization to 10.4 mln leva.

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