Sparky Eltos' Profit Up by 88% to 5.74 Mln Leva in H1

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Sparky Eltos () booked 5.74 mln leva profit for the first quarter of 2008, up 88%, compared to the 3.06 mln leva profit posted for the year-ago period.

The sales revenue of the company rose by 50% to 37.58 mln leva in the first six months of 2008, the report of the company published by x3news shows.

Sparky Eltos' issued capital to 16.745 mln leva as at the end of June 2008, while the equity capital of the company totaled 101.04 mln leva.

Sparky Eltos' managerial team and Sanyo Europe signed an agreement on May 20, 2008 for the joint manufacturing of lithium-ion batteries for power tools. The project envisages sales of tools using such batteries to reach 8-10 mln euros as by the end of 2008 under the project.

Major shareholders in the company are Sparky Group with a 67.457-percent stake and Julius Baer International Equity Fund, which owns 10.148%.

The stock of the company has depreciated by nearly 1.0% to an average of 9.3 leva per share so far today, despite the strong financial results. This means that the market value of the company stands at nearly 156 mln leva.

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