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Bulgarian REIT BREF's 9-mo net profit more than doubles

Oct 31, 2017, 1:30:33 PMArticle by Mario Tanev
share
SOFIA (Bulgaria), October 31 (SeeNews) – Sofia-based Bulgarian Real Estate Fund (BREF) [BUL:5BU] said its net profit rose to 2.6 million levs ($1.5 million/1.3 million euro) in the first nine months of 2017 from 1.2 million levs in the same period of last year.

Bulgarian REIT BREF's 9-mo net profit more than doubles
Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

The blue-chip real estate investment trust’s operating revenue fell to 4.6 million levs in January-September from 5.2 million levs in the corresponding period of 2016, BREF said in a bourse filing on Monday.

BREF’s operating expenses nearly halved to 2.1 million levs in the period under review from 4.1 million levs a year earlier.

The company’s total assets rose to 88.2 million levs at end-September from 84.8 million levs at end-2016.

As at 1100 CET on Tuesday, BREF shares traded 1.74% lower at 2.26 levs on the Bulgarian Stock Exchange.

(1 euro=1.95583 levs)

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