Bulgarian Ship Repairer Odessos Jan-Sept Net Profit Nearly Doubles Y/Y to 5.4 Mln Euro - Table

Following are details from the company's income statement filed with the Bulgarian Stock Exchange (BSE) (in millions of levs):

The company expects its revenue to increase by up to 30% after it puts into operation a new floating dock worth some 22 million euro in 2009, Executive Director Dimitar Ivanov told local Pari daily earlier this year. No forecast was available for the company's revenue in 2008.

The company repaired 39 foreign-owned and seven domestic ships in the first nine months of 2008, generating 34.3 million levs in income, it said in the statement without giving comparative figures.

Odessos was set up in 1963 in Varna, Bulgaria’s largest Black Sea port. Its facilities include one dry and two floating docks and an overall 1,200 metres of piers.

Shares of the company, part of the broader BG 40 index of the BSE, closed unchanged at 160 levs on Tuesday. The statement was released after the end of bourse trading.

(1 euro = 1.95583 Bulgarian levs)