December 3 (SeeNews) - Bulgarian diversified group Bulgartabac Holding [BUL:57B] said that its consolidated net profit, excluding minority interest, fell sharply to 8.1 million levs ($4.7 million/4.1 million euro) in the January-September period of the year from 43.1 million levs in the same period of 2017.
The group's operating revenue declined to 272.4 million levs in the first nine months of 2018, compared to 475.0 million levs in the comparable period of last year, despite the fact that it sold financial assets worth 31.4 million levs during the review period versus none a year earlier, figures from Bulgartabac Holding's interim financial statement, published on Friday, showed.
Operating expenses decreased to 263.4 million levs in the period under review from 421.5 million levs in the prior-year period, following a drop in cost of goods sold and expenses for materials.
Last year, British American Tobacco (BAT) purchased Bulgartabac's leading cigarette brands in a deal worth more than 100 million euro.
In July, the Bulgarian Stock Exchange decided to move Bulgartabac Holding to its BaSE alternative market over the company's failure to disclose regulated information.
(1 euro = 1.95583 levs)