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Slantse Stara Zagora Tabac Q3 loss narrows YOY

Slantse Stara Zagora Tabac AD said its normalized net income for the third quarter came to a loss of 6 stotinki per share, compared with a loss of 18 stotinki per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 75,630 leva, compared with a loss of 206,880 leva in the year-earlier period.

The normalized profit margin increased to negative 4.4% from negative 12.5% in the year-earlier period.

Total revenue increased on an annual basis to 1.7 million leva from 1.7 million leva, and total operating expenses declined 8.5% on an annual basis to 1.7 million leva from 1.9 million leva.

Reported net income came to a loss of 120,000 leva, or a loss of 10 stotinki per share, compared to a loss of 331,000 leva, or a loss of 28 stotinki per share, in the prior-year period.

As of Oct. 28, US$1 was equivalent to 1.79 leva.