Sat, Feb 11 2012

Bulgartabak Pleven reports 125% sales growth

Fri, Apr 24 2009 14:24 CET

byNick Iliev

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Bulgartabak Pleven reports 125% sales growth

Photo: Reuters

Bulgarian state-owned cigarette maker Bulgartabak's subsidiary in Pleven has reported a 125 per cent sales increase to 3.65 million leva for the first quarter of 2009, website investor.bg reported on April 24.

The net loss of the company for the first quarter in 2009 has decreased to 427 000 leva from 751 000 leva in the same period of last year.

The increase was due to the better quality of the 2008 tobacco harvest, which allowed the company to make better cigarettes, investor.bg said. The company said it hoped that would allow it to have a better year in 2009, despite increased competition from foreign brands.

The company's shares lost in 52.9 per cent over the past 12 months, reaching eight leva per share, investor.bg reported.

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