Orgachim Posts Consolidated H1 Profit At 12.28 Leva Per Share

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The consolidated H1 profit of Orgachim ()  reached 6.174 mln leva (3.156 mln euros), or 12.28 leva per share, the company's consolidated report reveals. By comparison, last year the H1 consolidated profit of the Russe-based paints and lacquers manufacturer stood at 1.05 mln leva.

The good result is mainly attributed to the 39.1% surge in revenues to 59.24 mln leva (30.288 mln euros), against 42.6 mln leva (21.781 mln euros) a year ago.

This increase mainly came from revenues from core activity, and more specifically from production sales.

The positive difference from changes in forex rates dropped from 2.88 mln leva to 664,000 leva.

However, this was compensated by rising financial revenues, which reached 2.11 mln leva, while no such were recorded last year.

Consolidated costs also grew significantly, from 41.14 mln leva a year ago, to 52.61 mln leva, which is mainly due to rising core activity costs.

The negative difference from change in the forex rates also dropped significantly, from 1.69 mln leva a year ago to 724,000 leva.

According to H1 data the company's core capital stands at 503,000 leva (257,179 euros), and own capital is at 20.8 mln leva (10.634 mln euros).

148 shares changed hands today on the BSE at an average of 473.55 leva, or 1.7% up from yesterday. The stock price has added the considerable 429.3% over the past 12 months.

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