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Nov 29, 2007 18:38 EEST
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):
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)
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