EMKA AD Profit Down To 662,000 Leva in First Quarter

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EMKA AD-Sevlievo posted a pretax profit of 662,000 leva for the first quarter of the year versus 757,000 leva a year ago, the company’s financial report published on BSE’s website showed.

Total revenues were up 47% to 15.48 mln leva from 10.4 mln leva in the corresponding period of 2006. Operating costs jumped 51.2% to 14.63 ln leva versus 9.72 mln leva in the first quarter of last year.

The framework contract with LAPP Kabel Germany continues in 2007 with revenues from this contract accounting for more than 10% of the company’s total revenues for the past three years.

EMKA’s core capital stands at 1.792 mln leva, and its own capital reached 15.478 mln leva in end-March.

KEMP AD controls 38.73% of EMKA’s capital, Industrial Holding Bulgaria controls 33.42%, and Biser Ivanov has 7.28%.

The company’s core activity is production of enameled, coiled, insulation and optical conductors.

576 shares on this position have been traded so far at an average price of 37.44 leva/share.

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