EMKA AD Profit Dips To 1.65 Mln Leva In 1H, Revenues Up 32%

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 The 1H earnings of Emka AD Sevlievo () dipped to 1.648 mln leva (842,609 euros), compared with 2.089 mln leva (1.068 mln euros) for the respective period a year ago, shows the company's report filed with the BSE.

Meanwhile, revenues surged 32% to 32.5 mln leva (16.617 mln euros), compared with 24.5 mln leva (12.526 mln euros) a year ago. The company's total costs grew 37.4% from 22.5 mln leva (11.504 mln euros) to 30.86 mln leva (15.778 mln euros).

More than 10% of the company's average revenues over the past three years come through the contract with LAPP Cabel Germany.

Emka increased its core capital from 1 792 148 leva (916,310 euros) to 5 376 444 leva (2.749 mln euros) using own funds. The new emission has not been registered with the BSE yet. As of June 30, core capital stands at 16.44 mln leva (8.405 mln euros).

KEMP AD controls 38.73% of capital, while Industrial Capital Holding and Biser Ivanov have 33.42% and 7.28%, respectively.

In June the company signed a contract for the delivery of 4 new machines worth a total of 1.2 mln euros.

Emka AD's core activity is the production of power cables, cords, enamelled copper round wires etc.

1827 shares changed hands on the BSE today at an average price of 17.68 leva.

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