Bulgaria’s Albena boosts 9-mo cons net profit 41% y/y

The company's revenue went up to 115.7 million levs in January-September from 110.6 million levs in the like period of 2022, Albena said in an interim financial statement on Thursday. The rise was driven by a 22% annual jump in both sales of goods and services, to 62.3 million levs and 41.5 million levs, respectively.

In parallel, operating expenses widened to 109.1 million levs from 105.5 million levs, chiefly due to higher remuneration expenses and costs for goods sold.

The company's assets stood at 617.9 million levs at the end of September, up from 607.9 million levs at the end of 2022, the statement showed.

Albena owns the eponymous resort on the northern Black Sea coast, as well as Byalata Laguna and Primorsko coastal holiday villages. It also has several subsidiaries active in transport, agriculture, construction, medicine and spa services.

Shares in Albena last traded on Friday when they closed at 25.40 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)