Bulgaria's CBA Asset Management 9-mo net profit more than doubles

CBA Asset Management's operating revenue went up to 579,000 levs in the nine months through September from 330,000 levs a year earlier, the company said in an interim financial statement.

The company generated 207,000 levs from renting out own real estate in the review period. In addition, CBA Asset Management booked revenue of 297,000 levs from control over its subsidiary CBA Property Management and received 75,000 levs in dividend from the unit.

At the same time, operating expenses in the first nine months of 2023 widened to 179,000 levs from 145,000 levs in the prior-year period, mainly due to higher expenses for hired services and remuneration.

Shares in CBA Asset Management last traded on November 23 when they closed at 1.30 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)