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Aug 29, 2023 16:17 EEST
August 29 (SeeNews) - Bulgaria's Industrial Capital Holding [BUL:HIKA] said on Tuesday that its consolidated net profit, excluding minority interest, grew to some 6 million levs ($3.3 million/3.1 million euro) in January-June from 4.8 million levs a year earlier.
Industrial Capital Holding's profit after tax, including interest attributable to other shareholders in the group, increased to some 28 million levs in the first half of 2023 from 21.7 million levs in the same period last year, the company said in an interim financial statement.
Operating revenue added an annual 8% to 214.1 million levs in the review period on the back of higher product sales and sales of goods.
In parallel, the company's expenses went up to 182.7 million levs from 175.3 million levs, mainly due to higher costs for remuneration, hired services and insurance.
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 August 21 when they closed at 3.08 levs on the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)
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