Cosmetics Maker Bulgarian Rose Beats July Sales Forecast

Business | August 22, 2019, Thursday // 20:05| Views: | Comments: 0
Bulgaria: Cosmetics Maker Bulgarian Rose Beats July Sales Forecast

Cosmetics producer Bulgarian Rose [BUL:4BH] said on Thursday that it pocketed sales revenue of 697,000 levs ($396,000/356,000 euro) in July, exceeding its forecast for 638,000 levs in monthly revenue, reports SeeNews

The company's accumulated sales in the first seven months of the year amounted to 2.83 million levs, Bulgarian Rose said in a bourse filing.

Bulgarian Rose generated revenue of 3.30 million levs in the January-July period of 2018, according to previously reported data.

Sales in August are projected at 360,000 levs, down from its August 2018 sales of 537,000 levs, reported previously.

Last month, Bulgarian Rose terminated its deal with Beijing Fangcaoziyan Cosmetics Trading Co. for exports of cosmetic products and rose oil due to the Chinese company's systemic failure to adhere to the agreement.

Karlovo-based Bulgarian Rose, established in 1948, manufactures cosmetic products for face, body, and hair using rose oil and locally-grown herbs.

Bulgarian Rose, part of the blue-chip industrial group Stara Planina Hold [BUL:5SR], has stores in nine cities across Bulgaria.

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