May 2 (SeeNews) - Bulgarian resort operator Albena [BUL:6AB] said it has sold its Sofia-based subsidiary Fohar for 14.5 million levs ($8.1 million/7.4 million euro) to an unnamed buyer.
As a result of the deal, the company has swung to a non-consolidated net profit of 5.2 million levs in the first quarter of 2017, from a non-consolidated net loss of 5.2 million levs in the like period of 2016, Albena said in its quarterly financial report.
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The company’s non-consolidated operating loss widened to 5 million levs in the January-March period, from 4.7 million levs in the first quarter of 2016.
Albena shares closed 2.89% higher at 64 levs on Tuesday in a trading volume of 162 units.
Fohar, established in 1973, rents out storage and office space. The storage area available for rent is 12 123 sq.m., while the office area available is 840 sq.m.
(1 euro = 1.95583 levs)