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Bulgaria's Albena Invest Holding 9-mo Cons Net Profit Shrinks 85% – Table

Nov 27, 2008, 3:07:40 PMArticle by Velizar Velikov
share
November 27 (SeeNews) - Bulgarian investment company Albena Invest Holding said on Thursday its consolidated net profit fell over 85% to 1.7 million levs ($1.1 million/871,000 euro) in the nine months through September as sales revenue fell almost 20%.

Bulgaria's Albena Invest Holding 9-mo Cons Net Profit Shrinks 85% – Table

Following are figures from Albena Invest Holding’s consolidated income statement (in million levs):

9-mo'08 9-mo'07 2007 (audited)
NET PROFIT 1.704 11.930 10.423
PRE-TAX PROFIT 1.714 11.953 10 729
SALES REVENUE 10.826 13.523 14.401

Company officials were not immediately available to comment on the results.

Albena Invest Holding more than doubled its 2007 net profit to 10.4 million levs.

Albena Invest Holding, a former privatisation fund, was listed on the BSE in 1998. The bigger part of its investment portfolio is concentrated in the tourism industry, which generates more than 10% of Bulgaria's gross domestic product.

Company shares, part of the broad BG 40 index of the Sofia bourse, fell 8.69% to 4.20 levs in volume of 25 shares on Thursday.

(1 euro = 1.95583 Bulgarian levs)

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