Drujba Glassworks removed from public companies register; non-cons net profit rises

Drujba Glassworks has been removed from the public companies register

Drujba Glassworks has been removed from the public companies register after a previous announcement regarding its delisting from the Bulgarian Stock Exchange.

Bulgaria’s Financial Supervision Commission said it has removed glassware and bottle maker Drujba Glassworks from its register of public companies.
The regulator provided no further details in its statement.
The Bulgarian Stock Exchange said earlier that packaging products manufacturer Unipack would be delisted from the bourse as of 6 November, as the company has been removed from the register of public companies.
In August, Bareck Overseas, a wholly owned subsidiary of Portugal’s BA Vidro, launched a squeeze out bid priced at BGN 6.118 (USD 3.7/EUR 3.1) per share for the remaining 0.20% stake in Drujba Glassworks, which BA Vidro did not already own directly or indirectly.
In June, Bareck Overseas acquired 286,817 Drujba Glassworks shares for BGN 1.75 million in a takeover bid, boosting its stake to 99.8%.
In October 2016, Greek glassmaker Yioula agreed to sell its Bulgarian unit Drujba Glassworks to BA Vidro.
Drujba Glassworks reported a non-consolidated net profit rose to BGN 19.5 million (USD 11.61 million/EUR 9.9 million) in the nine months through September, from BGN 13.12 million in the like period of 2016.
Sales revenue increased to BGN 152.6 million in the January-September period, from BGN 140.6 million in the corresponding period of last year, Drujba Glassworks said in a bourse filing.
The company’s operating profit grew to BGN 48.1 million in the period under review, from BGN 45.6 million a year earlier.
Financial expenses dropped to BGN 2.4 million in the first nine months, from BGN 6.1 million in the same period last year.
Drujba Glassworks has two glass container plants – in Sofia and Plovdiv.