Orgachim Files 1Q Report, Trade Resumes Monday

Orgachim AD-Rousse filed its 1Q report today and BSE-Sofia will resume trade with the company's stock on Monday (23 July).

Orgachim posted net profit in the amount of 1.966 mln leva (1.005 mln euros) for the period, or 3.91 leva per share, against 658,000 leva (336,430 euros) a year ago.

Net sales revenues surge more than 49% to 21.32 mln leva (10.900 mln euros), compared with 14.3 mln leva (7.311 mln euros) a year ago. Financial revenues are up by almost 1 mln to 2.23 mln leva (1.140 mln euros), of which 1.33 mln leva (680,018 euros) are written down as „others“ in the report.

Costs on economic elements grew to 20.22 mln leva (10.338 mln euros) from 14.6 mln leva (7.464 mln euros) in 2006 1Q. The majority of these are materials – 15 mln leva , payroll – 1.5 mln leva, and other services – 1.3 mln leva.

According to the report core capital is at 503,000 leva (257,179 euros), and equity capital stands at 16.8 mln leva (8.590 mln euros).

A temporary ban on trade with the stock was issued 13 June, after the company failed to submit the report within the due period.

Majority shareholder is Whitebeam Holdings Limited, controlled by Policolor-Romania, which owns 64.21% of the capital.

In April Orgachim cleared all its liabilities to the government in compliance with the Government Debt Law. The company's debt had amounted to 13.7 mln dollars and 14.384 mln leva.

The company's shares were last transacted on the BSE on 12 June at an average of 251.05 leva.

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