November 28 (SeeNews) - Bulgarian diversified group Holding Varna [BUL:5V2] said on Wednesday that its consolidated net profit, excluding interest attributable to minority shareholders in the group's units, rose to 4.2 million levs () in the first nine months of the year from 3.8 million levs in the same period of 2017.
The company's operating revenue grew to 64.5 million levs in the January-September period from 56.4 million levs in the comparable period of last year, Holding Varna said in an interim financial statement.
Holding Varna's operating expenses increased to 57.6 million levs in the review period from 51.0 million levs in the prior-year period, as salary expenses rose to 16.2 million levs from 12.5 million levs a year earlier.
The company is currently in the process of increasing its capital, as it is seeking to raise up to 45 million levs via the issuance of up to 1.25 million shares. The capital increase will be considered successful if at least 500,000 shares are subscribed for and paid for, in which case the proceeds will total 18 million levs. Holding Varna is planning to use the funds to repay part of its outstanding liabilities, as well as for the upgrade and construction of hotels.
Holding Varna’s portfolio includes companies in the tourism, media, real estate, and financial sectors.
(1 euro=1.95583 levs)