November 29 (SeeNews) - Bulgarian investment company Albena Invest Holding said on Thursday its preliminary consolidated net profit for the first nine months of the current year more than tripled from the year-ago period and reached 11.8 million levs ($8.9 million/6.0 million euro), with total costs 34.1% lower on the year.
"The main reason for the rise is the sale of [chemical fertilisers manufacturer] Neochim shares," the group's chief accountant Pavlina Vardarova told SeeNews.
In August, the holding sold 170,337 stocks held in Neochim in a deal worth 9.7 million levs.
Following are figures from Albena Invest Holding's consolidated income statement, filed with the Bulgarian Stock Exchange (BSE) (in millions of levs):
|
|
Jan-Sept'07 |
Jan-Sept'06 |
2006 (audited) |
| NET PROFIT |
11.813 |
3.436 |
5.088 |
| PRE-TAX PROFIT |
11.953 |
3.971 |
5.276 |
| SALES REVENUE |
13.503 |
21.383 |
16.810 |
| TOTAL REVENUE |
24.379 |
22.802 |
21.749 |
| TOTAL COSTS |
12.426 |
18.831 |
16.473 |
Albena Holding, a former privatisation fund, became a holding company and was listed on the BSE in 1998. Around 65% of Albena Holding's investment portfolio is concentrated in the tourism industry, which generates around 15% of Bulgaria's gross domestic product.
Company stock, part of the broad BG 40 index of the BSE, closed 1.95% higher at 20.9 levs on Thursday. The financial statement was filed after the end of bourse trading.
(1 euro = 1.95583 Bulgarian levs)