The fall in revenue is attributed to the withdrawal from the Bulgarian market, closure of some unprofitable units, the impact of shift in bank holidays and further decline in the purchasing power, according to a press release posted on the Ljubljana Stock Exchange.

Operating profit was up more than fourfold from the first quarter of last year to EUR 5m, while earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 5.1% to EUR 22.7m.