Decotex Ends Q1 At a Loss

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Decotex Ends Q1 At a Loss

Decotex () ended Q1 at a loss in the amount of 324,000 leva compared with a positive result of 124,000 leva a year ago, the company report revealed.

Revenues shrunk 32% year-on-year, from 6.84 mln leva to 4.61 mln leva. Net sales revenues slipped by 2.3 mln leva to 4.49 mln leva (2.29 mln euros). Product sales stood at 4.32 mln leva, slightly down from 4.9 mln leva for the corresponding period in 2007.

Costs are also down. Operating costs amounted to nearly 5 million leva, which is by 1.7 mln leva less than a year ago.

Assets stand at 44.3 mln leva (22.65 mln euros), versus 43.05 mln leva in Q1 2007. Fixed assets are valued at 23.64 mln leva (slightly up from 23.04 mln leva in March 2007), and current assets amount to 20.66 mln leva (against 20.01 mln leva a year ago).

Long term liabilities stayed unchanged at 14 mln leva, while current liabilities grew from 6.1 mln leva to 7.68 mln leva y/y.

The company's subscribed capital amounts to 15.042 mln leva (7.69 mln euros) and equity capital is at 22.64 mln leva (11.57 mln euros), against 22.97 mln leva a year ago.

The stock is down 4.57% so far today on BSE to 1.67 leva at a turnover of 2,331 shares.

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