Sun, Nov 22 2009

Neochim declares 86.8 per cent drop of revenue for 2009 - report

Tue, Oct 27 2009 12:25 CET byNick Iliev 722 Views 1 Comment
Neochim declares 86.8 per cent drop of revenue for 2009 - report

The fertiliser factory Neochim accounted for 86.8 per cent drop of net revenue on annual basis, down to 10.5 million leva for the Q3 of 2009, a company press release said, cited by Investor.bg on October 27 2009.

In the first nine months of 2009, Neochim declared revenue worth 61.3 million leva, or a decrease of 76.5 per cent on an annual basis. Pertaining to the entire 2009 period, the company expects that the loss until the end of December will mean an overall slump of 55 per cent in revenue, the report said.

Neochim has unveiled a 8.6 million leva loss for Q3 in 2009, as opposed to 6.7 million leva profit for the corresponding period in 2008.

The overall loss for the first nine months in 2009 accounts for 16.8 million leva, as opposed to a 53.9 million leva profit in the first nine months of 2008.

Meanwhile, in the last three months, the company's shares increased in value by 22.5 per cent, reaching 34 leva, with Neochim having a 90.2 million leva current market capitalisation.

Comments

Anonymous vanko Wed, Oct 28 2009 11:44 CET
Inappropriate comment?

How does that one work?? reduced income, large losses but company value increases when everyone else is reduced?? What do they know that we dont??

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