Bulgaria's Industrial Capital Holding boosts 9-mo net profit 21% y/y

Industrial Capital Holding's profit after tax, including interest attributable to other shareholders in the group, went up to 41.2 million levs in the nine months through September from some 35.1 million levs in the prior-year period, the company said in an interim financial statement on Wednesday.

The company's total revenue grew to 315.1 million levs in January-September from 301.6 million levs in the like period of 2022, driven by a rise in sales of goods and products.

At the same time, operating expenses widened to 269.1 million levs from 263.6 million levs on the back of higher costs for remuneration and a negative change in inventory.

Industrial Capital Holding consolidates the results of two majority-owned units - machine manufacturer Siloma and supporting components producer Rubolt, as well as three affiliates - cable producer Emka [BUL:EMKA], hydraulic equipment manufacturer M+S Hydraulic [BUL:MSH] and abrasive tools maker ZAI.

Shares in Industrial Capital Holding last traded on Wednesday when they closed at 3.00 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)