Neochim Profit Down 16.1% Y/Y

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Neochim Profit Down 16.1% Y/Y

Neochim's profit shrunk 16.1% y/y, the company's non-consolidated report reveals. 2007 earnings are in the amount of 3.05 mln leva (1.559 mln euros), according to the paper, compared with 3.58 mln leva (1.830 mln euros) a year ago.

The revenues of the Dimitrovgrad-based chemical plant rose just 1.01% last year to 185.07 mln leva (94.624 mln euros), versus 182.36 mln leva (93.239 mln euros) for 2006. Revenues from core activity grew by nearly 3 mln leva.

Costs, however, also rose by 3 mln, reaching 181.68 mln leva (92.891 mln euros).

The report was released half an hour before the end of today's trade session in which shares suffered a significant loss. The average price dipped 5.8% at a turnover of just 267 shares.

The stock has added 34.6% over the past 1 year, but has been declining since end of October, when it reached the record high of a little over 96 leva. The average price today stood at 59.19 leva.

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