Balkan Profit Nearly Doubles In First Half

1H profit of Balkan AD Lovetch () nearly doubled to 295,000 leva (150,831 euros) against 157,000 leva (80,272 euros) for the respective period a year ago.

That equals 0.47 leva profit per share.

The company attributes the increase to the 8% hike in revenues which grew from 4.42 mln leva (2.260 mln euros) a year ago to 4.78 mln leva (2.443 mln euros) for the period. Meanwhile costs increased by 5%.

The good report boosted trade with the stock today. 500 shares have changed hands so far on the BSE, adding 9.6% to an average of 25.60 leva per share.

Currently there is a wide gap between bids and asks, which are at 24 leva and 26 leva, respectively. Most deals are made at 24 leva/share.

The stock of the bicycle manufacturer has added 171.3% over the past 12 months, nearly 87% over the past six months, shows BSE data.

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