Bulgaria’s MonBat 9-mo non-cons net profit surges 45%

Bulgarian car battery maker MonBat [BUL:5MB] said on Tuesday its nine-month non-consolidated net profit surged by 45% on the year to 5.5 million levs ($3.6 million/2.8 million euro).

Its earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to 10.8 million levs in the first nine months of 2012 from 9.3 million levs in the same period a year earlier, the company said in a note to investors.

Its non-consolidated sales revenue fell to 122.1 million levs through September from 137.5 million levs a year ago.

The company cut costs for materials to 78.9 million levs in the January-September period from 82.2 million levs a year earlier.

Earnings per share rose to 0.15 levs through September from 0.10 levs in the same period of 2011.

MonBat is majority-owned by Bulgarian lubricants producer Prista Oil.

Blue chip MonBat's shares closed 0.41% lower at 4.8 levs in a volume of 3,176 on the Bulgarian Stock Exchange on Tuesday.

(1 euro=1.95583 Bulgarian levs)

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