Bulgarian Resort Operator Albena Posts 4.5% Lower Jan-Sept Net Profit, To Miss 2008 Target - Table

Albena will have a lower-than-planned net profit this year because of investment costs, a wage rise and weaker-than-expected bookings in September, the company said in a statement filed with the Bulgarian Stock Exchange’s (BSE) information service X3 News.

Albena has said it planned to book a net profit of 18.4 million levs this year, four percent higher than in 2007.

In August the company said it planned to wrap up a 17 million euro ($22.4 million) investment in a Black Sea vacation complex by the end of 2010.

Following are data from Albena's unconsolidated income statement (in millions of levs):

Shares in Albena, part of the Bulgarian bourse's SOFIX index, closed 3.8% lower at 36.55 levs on Wednesday. No company shares had changed hands by 0821 GMT on Thursday.

(1 euro = 1.95583 Bulgarian levs)