Bulgarian lead-acid battery manufacturer Monbat has posted a near 30% increase in sales for the 11 months up to November 2017 over the year-ago period.
Monbat said the group’s consolidated net sales for the period amounted to the equivalent of around $186m— representing an increase of 27.90% over the same period in 2016.
Profit before taxes for January-November 2017 were up 4.40% on the year ago period, Monbat said.
The sales boost came after Monbat’s board gave the go-ahead for the firm to issue seven-year corporate bonds worth up to EUR30m ($35.4m).
Monbat told Bulgaria’s Financial Supervision Commission last October the company would issue up to 30,000 bonds with a nominal value of EUR1,000 each.
Monbat said the move aims to underpin future investment plans— and follows a clutch of deals the acquisitive company made over the past year as it expands the Sofia-based business.