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Lomsko Pivo Q3 profit climbs 57.9% YOY

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Lomsko Pivo Q3 profit climbs 57.9% YOY

Lomsko Pivo AD said its normalized net income for the third quarter was 37,500 leva, an increase of 57.9% from 23,750 leva in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 1.5% from 0.7% in the year-earlier period.

Total revenue fell 31.8% year over year to 2.5 million leva from 3.6 million leva, and total operating expenses declined 31.2% from the prior-year period to 2.4 million leva from 3.5 million leva.

Reported net income grew 27.3% from the prior-year period to 42,000 leva, or 1 stotinki per share, from 33,000 leva, or 1 stotinki per share.

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