August 17 (SeeNews) - The consolidated net profit, excluding non-controlling interest, of Bulgaria's Industrial Capital Holding [BUL:4I8] rose to 2.8 million levs ($1.6 million/1.4 million euro) in the first half of 2018 from 2.6 million levs in the same period of last year, the group said on Friday.
The holding's after-tax profit, including profit attributable to minority shareholders in the group's subsidiaries, increased to 12.5 million levs in the first six months of the year from 10.6 million levs in the corresponding period of 2017, Industrial Capital Holding said in an interim financial statement.
Industrial Capital Holding's consolidated operating revenue grew to 128.0 million levs in the review period from 107.8 million levs the year before.
The group's expenses totalled 114.4 million levs in the first half of the year, up from 96.3 million levs in the like period of last year.
Expenses for materials rose to 78.7 million levs in the review period from 67.4 million levs a year earlier, while personnel costs increased to 17.7 million levs from 14.4 million levs the year before.
Industrial Capital Holding owns majority stakes in local companies Siloma and Rubolt, as well as minority stakes in local abrasive-coated discs maker ZAI, hydraulic equipment manufacturer M+S Hydraulic [BUL:5MH] and cable maker Emka [BUL:57E].
(1 euro = 1.95593 levs)