Herti Posts a 359,000 Leva Profit in 2006

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Herti OOD posted a profit of 359,000 leva after taxation for 2006. Some 21,000 leva from this profit came from Herti’s subsidiaries, the company’s CFO Elena Zaharieva told Profit.bg

In the same quarter last year the company registered a net profit of 1.233 mln leva.

In 2006 the company’s sales revenues increased from 22.217 mln leva to 23.638 mln leva.

As of 31 December 2006 its assets were worth 17.004 mln leva versus 13.875 mln leva in 2005.

“By decision of Shumen District Court the company’s capital was increased from the current 2.5 mln leva to 4.77 mln leva using funds from its undistributed profit”, Zaharieva added.

Herti’s transformation procedure into a public limited liability company is expected to be completed by June, and its IPO is slated for September.

In April Herti established a joint venture in France – Herti France, in which it holds 33%.

Herti is a producer of aluminum and plastic caps for low-alcoholic drinks, wines, mineral water, fruit juice, olive oil and drugs, etc.

Mayer Export-Import and Alexander Yulianov control 34.00 and 33.00% of Herti’s capital respectively, while Zahari Zahariev and Elena Zaharieva hold 25.00 and 8.00%.

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