Bulgarian glassware and bottle maker Drujba Glassworks’ said its consolidated net profit fell to 11.5 million levs ($6.25 million/€5.88 million) in the first nine months of 2016, from 18.1 million levs in the same period of last year.
Sales revenues fell to 191.6 million levs, from 202.5 million levs in the January-September period of 2015, the company said in a bourse filing last week. Cost of goods sold dropped to 148.6 million levs, from 157.9 million levs last year.
Administrative costs rose to 14.4 million levs, which compares to 12.5 million levs in the first nine months of last year. Distribution costs increased to 9.4 million levs, from 8.6 million levs.
Operating profit fell to 20.3 million levs, which compares to 27.1 million levs in the January-September period of 2015.
Earlier this year, Greek glassware and bottle maker Yioula sold its glass container business, which also included Drujba Glassworks, to Portuguese group BA Vidro.
Drujba Glassworks has two production units, one in Sofia and in Bulgaria's second-largest city of Plovdiv, in the south of the country.