November 6 (SeeNews) - Bulgaria's BDZ Passengers, part of state-owned railway group BDZ Holding, said that it turned to a net loss of 5.5 million levs ($3.1 million/2.8 million euro) in the January-September period of 2019 from a net profit of 3.4 million levs in the same period of last year, due to a rise in expenses.
BDZ Passengers' operating expenses increased by an annual 6% to 166.6 million levs in the first three quarters of the year, the company said in an interim financial statement.
The company's personnel expenses grew to 82.3 million levs in the first nine months of the year from 73.1 million levs in the comparable period of 2018,
Expenses for materials rose to 50.4 million levs in the review period from 43.2 million levs the year before, while expenses for hired services fell to 33.4 million levs from 35.7 million levs a year earlier.
Amortisation and depreciation costs decreased to 37.5 million levs from 40 million levs in the prior-year period.
The company's sales revenue increased to 46.4 million levs in January-September from 44.7 million levs the year before, while financial revenue fell to 152.1 million levs from 156.3 million levs.
(1 euro = 1.95583 levs)