Emka's Q1 Profit Down 20% Y/Y to 528,000 Leva

Emka's Q1 Profit Down 20% Y/Y to 528,000 Leva

Emka of Sevlievo () booked 528,000 leva (270,000 euros) gross profit for the first quarter of 2008, down 20% year on year. The company posted 662,000 leva gross profit in the first three months of 2007, the report of the company, published on x3news.com. shows.

Emka's sales revenue went up by 6.5% to 16.5 mln leva (8.43 mln euros) in the first quarter of 2008. Exports accounted for 8.84 mln leva (4.51 mln euros) of the figure.

The business program of the company for 2008 and 2009 is aimed at maintaining competitiveness and improving labor productivity. Emka's output is expected to grow by 11% in 2008, compared to 2007. The entire output has been secured with contracts.

The program envisages the purchasing of new production equipment and expanding the output capacity by 50% in 2009. The company plans up to 2 mln euro (1.02 mln euros) investments in the period, which will be secured through own funding and loans.

Emka's issued capital amounted to 5.376 mln leva (2.74 mln euros), while the equity capital of the company stood at 17.78 mln leva (9.09 mln euros) as at the end of March.

Emka specializes in the production of enameled and insulated cables and wires.

A total of 1,000 shares in the company changed hands today at an average price of 13.02 leva (6.65 euros) apiece.

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