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Bulgaria's BG Agro reports drop in 9-mo cons net profit as expenses rise

Author Mario Tanev
Bulgaria's BG Agro reports drop in 9-mo cons net profit as expenses rise Author: BG Agro/License: All rights reserved.

SOFIA (Bulgaria), November 29 (SeeNews) - Bulgarian farming group BG Agro [BUL:AO0] said on Friday that its consolidated net profit shrank to 740,000 levs ($416,000/378,000 euro) in the first nine months of 2019 from 4.4 million levs in the same period of last year, due to a rise in expenses.

BG Agro's operating revenue edged down to 75.2 million levs in the January-September period of the year from 75.5 million levs in the comparable period of 2018, the company said in an interim financial statement.

Operating expenses grew to 74.5 million levs in the review period from 71.1 million levs the year before, as expenses for hired services rose to 8.7 million levs from 6.4 million levs.

(1 euro = 1.95583 levs)

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