Rousse-based paint and varnish maker Orgachim posted a 25-percent year-on-year decline in net sales revenue, which amounted to 19.08 mln leva as at the end of March, the non-consolidated results of the company for the first quarter show.

The exports of the company stood at 11.4 mln leva in the first three months of the year and accounted for 67% of Orgachim's overall sales.

The business costs of the company declined by 18%, to 20.8 mln leva, while the material costs shrunk nearly twofold to 9.9 mln leva.

Orgachim booked 2.02 mln leva net loss for the first quarter of 2009, compared to 182,000 leva loss for the year-ago period.

The balance sheet value of the company's assets stood at 103.58 mln leva as at March 31, which represents a decline of 3.77 mln leva compared to the end of 2008.

The issued capital of the company amounted to 503,000 leva, while the equity capital stood at 64.41 mln. leva, compared to 66.43 mln leva as at the end of 2008.

Orgachim's stock price is up by 1.66%, to 65.67 leva per share so far today.