Biovet Revenues Reach 25.32 Million Leva; Profit Hits 46,000 Leva

Biovet AD posted a profit of 46,000 leva in the first quarter of 2007 up from 29,000 leva a yearago, the company’s financial report filed in BSE-Sofia shows.

Total revenues grew 16% to 25.32 mln leva from 21.9 mln leva in the same three months last year. Costs were also up 16% to 25.274 mln leva.

Biovet has a core capital of 6.783 mln leva. Its own capital amounts to 56.223 mln leva.

In the end of last quarter Biovet had liabilities worth 56.56 mln leva, while its cash totaled 981,000 leva.

Biovet is a leading European manufacturer and marketer of medicated and nutritional feed additives, enzymes, bulk active substances and pharmaceuticals for animal productivity and health.

On its forthcoming general meeting on 15 June 2007 Biovet shareholders are to vote a proposal to authorize its board to negotiate with potential buyers of its cogeneration gas station.

Biovet has invested a total of 30 mln leva in the 21 mwh installation with, which producers and electricity for the company’s technological needs.

The main shareholders of Biovet are Huvepharma AD-Sofia with 75.58% of its capital and Merrygold Worldwide Developments Inc. with approximately 6%.

Bivoet shares were down 2.45% today to an average level of 17.53 leva/share. The company’s market capitalization currently stands at 118.9 mln leva.

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