Drujba Staklarski Zavodi Profit Up 80% to 27.85 Mln Leva

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The Jan – Sept profit of Drujba Staklarski Zavodi rose 80% to 27.85 mln leva (14.240 mln euros), or 4.16 leva, versus 15.457 mln leva (7.903 mln euros), or 2.31 leva a year ago, the company's report revealed.

Net sales revenues grew more than 19% to 152.26 mln leva (77.850 mln euros), compared with 127.6 mln leva (65.240 mln euros) last year.

Costs on economic elements rose nearly 15% to 121.36 mln leva (62.050 mln euros), and financial costs stood at 3.74 mln leva (1.912 mln euros).

Drujba Staklarski Zavodi has core capital in the amount of 6.69 mln leva (3.420 mln euros), and own capital in the amount of 170.84 mln leva (87.350 mln euros).

On September 30 th company's liabilities stood at a little over 123.5 mln leva (63.144 mln euros), and borrowings came to 80.76 mln leva (41.292 mln euros).

Main shareholders are Barek Overseas Limited with 50.71% and Glassinvest with 46.91%.

Drujba Staklarski Zavodi intends to enhance production capacity in the Plovdiv plants by the end of the year, and to build a new furnace and production line for glass packaging.

The company aims at achieving production capacity to 100 mln bottles per year. The new furnace will function in compliance with the latest technologies and environmental sustainability requirements.

15 shares changed hands yesterday at an average price of 160.09 leva, which values the company at 1.07 bln leva (547.082 mln euros).

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