February 28 (SeeNews) - Bulgarian resort operator Albena [BUL:6AB] said that its consolidated net profit, excluding minority interest, fell to 9.2 million levs ($5.2 million/4.7 million euro) in 2019 from 9.6 million levs the year before, despite a rise in revenue.
Albena generated operating revenue of 135.5 million levs in 2019, up from 131.9 million levs a year earlier, it said in an annual financial statement on Thursday.
The company's operating expenses also increased, to 124.6 million levs last year from 121 million levs in 2018, as cost of goods sold and amortisation costs grew.
Albena's consolidated assets rose to 652.2 million levs at the end of 2019, up from 635.6 million levs a year earlier.
Albena shares closed 0.5% lower at 39.6 levs on the Bulgarian Stock Exchange on Thursday, down 5.7% year-to-date.
Earlier this year, Albena signed a concession agreement for the Albena beach, on Bulgaria's Black Sea coast.
(1 euro = 1.95583 levs)