Fertiliser producer Neochim-Dimitrovgrad with 20.58 million BGN for January-September 2011
Article published from Dnevnik.bg on 2011-10-28 13:29:00Category: Business in Dimitrovgrad
Bulgarian fertiliser producer Neochim-Dimitrovgrad has booked profits of 20.58 million leva for the January-September period of 2011, reversing losses of eight million leva in the corresponding 2010 stretch, company accounts show.
For the 9 months under report, Neochim more than doubled its sales, collecting 220.77 million leva against 100 million leva previously. Growth was primarily driven by increased product sales, which accounted for nearly all of group revenues.
At the same time, expenses almost doubled to exceed 200 million leva but the rate of increase still lagged that of revenues. Higher raw material costs made up most of the expenditure.
The company also spent more on employee pay, with the salary pool growing by 39 per cent. The financial report showed that Neochim expanded its workforce by 100 between January and September 2011. Long-term bank debt has grown by 20 per cent to three million leva, while obligations maturing in 12 months have fallen by 40 per cent to less than five million leva.
For the 9 months under report, Neochim more than doubled its sales, collecting 220.77 million leva against 100 million leva previously. Growth was primarily driven by increased product sales, which accounted for nearly all of group revenues.
At the same time, expenses almost doubled to exceed 200 million leva but the rate of increase still lagged that of revenues. Higher raw material costs made up most of the expenditure.
The company also spent more on employee pay, with the salary pool growing by 39 per cent. The financial report showed that Neochim expanded its workforce by 100 between January and September 2011. Long-term bank debt has grown by 20 per cent to three million leva, while obligations maturing in 12 months have fallen by 40 per cent to less than five million leva.
