Elhim-Iskra Profit More Than Doubles in First Quarter

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Elhim-Iskra profit more than doubled in the first quarter to 172,000 leva from 82,000 leva a year ago, the company’s non-financial report showed.

The increase was chiefly due to higher revenues which grew 66% to 6.5 mln leva in the three months ended 31 March compared to 3.92 mln leva in the corresponding period last year.

Costs also grew significantly especial material costs.
Total costs reached 6.32 mln leva from 3.84 mln leva a year earlier. Remuneration costs increased too.

Elhim-Iskra has a core capital of 837,000 leva. Its own capital stands at 17.13 mln leva.

Almost 300,000 shares of the Pazardjik-based company changed hands today at 32.80 leva/share down 2.1% from yesterday’s close. Elhim-Iskra’s stock has gained 156% for the past 12 months.

In the end of March the company forecast a profit of 312,000 leva or 0.37 leva/share for the current fiscal year on 23.4 mln leva revenue.

The company registered a net profit of 580,000 leva last year versus 369,000 leva in 2005.

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