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Slantse Stara Zagora Tabac Q1 loss narrows YOY

Slantse Stara Zagora Tabac AD said its normalized net income for the first quarter was a loss of 27 stotinki per share, compared with a loss of 29 stotinki per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 314,380 leva, compared with a loss of 345,000 leva in the year-earlier period.

The normalized profit margin dropped to negative 38.9% from negative 36.3% in the year-earlier period.

Total revenue decreased 14.9% on an annual basis to 809,000 leva from 951,000 leva, and total operating expenses fell 5.6% year over year to 1.2 million leva from 1.3 million leva.

Reported net income came to a loss of 503,000 leva, or a loss of 43 stotinki per share, compared to a loss of 548,000 leva, or a loss of 47 stotinki per share, in the prior-year period.

As of April 28, US$1 was equivalent to 1.78 leva.