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Bulgarian Road Building Company Trace Posts Sharp Drop in 9-mo Cons Net Profit - Table

Nov 30, 2008, 5:39:57 PMArticle by Velizar Velikov
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November 30 (SeeNews) - Bulgarian road construction company Trace Group Hold late on Friday posted a sharp drop in its consolidated net profit for the first nine months of 2008 to 108,000 levs ($70,000/55,000 euro) as costs rose faster than revenues.

Bulgarian Road Building Company Trace Posts Sharp Drop in 9-mo Cons Net Profit - Table

Following are figures from Trace's consolidated income statement (in millions of levs):

9-mo'08 9-mo'07 2007
NET PROFIT AFTER MINORITY INTERESTS 0.108 5.038 7.166
PRE-TAX PROFIT 0.082 5.234 8.885
SALES REVENUE 74.792 56.348 132.025
TOTAL REVENUE 75.588 56.787 132.257
TOTAL COSTS 75.506 51.553 123.372

Trace Group Hold is active in Bulgaria and other countries in the region. The company seeks expansion in the Middle East and also in Russia with projects related to the 2014 Winter Olympics in the country.

Shares of Trace Group Hold, part of BG 40 index of Sofia bourse, closed 3.75% up at 41.50 levs on Friday.

(1 euro = 1.95583 Bulgarian levs)

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