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Bulgarian resort operator Albena's 9-mo net profit falls as financial costs double

Bulgarian resort operator Albena's 9-mo net profit falls as financial costs double Albena AD/All rights reserved.

SOFIA (Bulgaria), November 30 (SeeNews) - Bulgarian resort operator Albena [BUL:6AB] said on Wednesday its consolidated net profit declined by 11% year-on-year to 14.5 million levs ($7.9 million/7.4 million euro) in the first nine months of 2016.

Sales revenue rose by an annual 8.7% to 96 million levs in January-September, Albena said in a bourse filing.

The company's operating profit fell 6% to 17.8 million levs in the period under review.

Financial expenses more than doubled to 5 million levs from 2.3 million levs in the first nine months of 2015.

Albena [BUL:6AB] shares were trading 0.17% higher at 52.95 levs by 15:10 CET on Wednesday on the Bulgarian Stock Exchange.

(1 euro=1.95583 levs)

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