May 28 (SeeNews) - Bulgaria's Industrial Capital Holding [BUL:HIKA] said that its consolidated net profit excluding minority interest roughly doubled to 1.4 million levs ($877,000/716,000 euro) in the first quarter of 2021 from 725,000 levs in the same period of last year.
Industrial Capital Holding's profit after taxes, including interest attributable to other shareholders in the group's units, rose to 6.8 million levs in the reporting period from 4.7 million levs in the comparable period of 2020, the company said in an interim financial statement, published earlier this week.
The group's revenue grew to 69.8 million levs in the first quarter from 56.1 million levs the year before.
Expenses increased to 62.5 million levs from 51 million levs a year earlier, mostly on the back of higher expenses for materials.
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 producer ZAI.
(1 euro = 1.95583 levs)