Todoroff Profit at 10,000 Leva in First Quarter; Revenues Up 75%

In its first quarter as public company Todoroff AD registered a profit of 10,000 leva compared to a loss of 8,000 leva a year ago.

The cellar’s revenues increased 75% in the three months ended 31 March to 518,000 leva from 296,000 leva in the same period last year. The registered growth is mainly due to higher sales which reached 500,000 leva compared to 292,000 leva in the first quarter of 2006.

Costs however also grew significantly to 508,000 leva from 304,000 leva a year ago.

Todoroff has a core capital of 3.4 mln leva. Its own capital is in the amount of 3.89 mln leva.

At the secondary public offering of 1.1 mln shares of Todoroff AD the average price was 2.00 leva/share and the acceptance rate was 53.46%.

The offered stock was oversubscribed 4.45 times, according to data provided by BenchMark Finance, the investment broker of the listing.

Todoroff AD posted a 76.000 leva profit in 2006 compared to a profit of 215.000 leva the previous year. Net revenues reached 2.001 leva last year against 1.402 mln leva in the end of 2005.

More than 900 shares of Todoroff AD changed hands today. Their average price was up 2.6% to 1.99 leva/share.

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