Bulgaria’s ImPulse Growth more than doubles Q1 net profit

ImPulse Growth reported a pretax profit of 878,000 levs in the first three months of this year, the company said in a stock exchange filing on Wednesday.

At the end of March, the firm's assets amounted to 8.84 million levs, of which some 8.69 million levs were in financial assets and 144,000 levs in cash.

In contrast, the investor recorded a net profit from fair value changes of 332,000 levs and a pretax profit of 307,000 levs in the first quarter of 2023, according to previously disclosed information. As of March 31, 2023, the company’s assets stood at 6.7 million levs.

The value of ImPulse's investments in companies traded on the Bulgarian Stock Exchange totalled some 1.68 million levs at the end of March. In the review period, the firm subscribed for 28,191 shares at a total price of 104,000 levs as part of software and IT services group Bianor Holding's [BUL:BNR] capital increase.

The firm's positions in its ImVenture I and ImVenture II funds were valued at 454,000 levs and some 6.26 million levs at the end of March, respectively. When setting up its ImVenture III fund, the company subscribed for 3,000 ordinary shares at a total price of 300,000 levs, it said.

ImPulse Growth is currently undergoing a warrants issue, in which it is offering some 2.96 million warrants at 0.10 levs apiece by way of an initial public offering.

Shares in ImPulse Growth last traded on Wednesday when they closed at 1.56 levs on the BEAM growth market of the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)