Bulgaria's Enemona sees 28.4% y/y drop in Q3 revenue

Enemona said the expected decline was primarily due to the lower number of new contracts signed during the first half of 2011 in comparison with those signed during the same period of 2010. The longer weighted average period of execution of the contracts signed during the last two years has also contributed to the fall.

The group’s August preliminary total revenue reached 21.6 million levs, Enemona said in a bourse filing, provided no comparative figures.

Revenue from construction and energy efficiency contracts amounted to 53.42% of the total revenue in August, while income from sale of electricity ranked second with 39.28%.

The value of the new construction and engineering contracts Enemona signed in the July-August period totaled 21.6 million levs, VAT excluded.

(1 euro = 1.95583 Bulgarian levs)