Monbat uncons bottom line lower after audit



Bulgarian car battery manufacturer Monbat reports 33% lower unconsolidated net profit vs. preliminary FY 2014 results as a result of the audit.

Audited net income totaled BGN 12.8 m and is 43% lower compared to an year earlier. The change is due to higher other costs due to Octa Light impairments totaling BGN 4.5 m and higher external services costs after the audit.

The top line remains almost unchanged ending at BGN 249 m of revenues or 0.63% higher y-o-y and 2.3 million units sold or 1% higher y-o-y.

Monbat corporate profile from ELANA Trading