You have 5 free articles left this month. Get your free Basic subscription now and gain instant access to more.

Bulgaria's Industrial Capital Holding increases 9-mo net profit as revenue soars

Bulgaria's Industrial Capital Holding increases 9-mo net profit as revenue soars Ken Teegardin/CC BY-SA 2.0

SOFIA (Bulgaria), November 29 (SeeNews) - Bulgaria's Industrial Capital Holding [BUL:HIKA] said that its consolidated net profit excluding minority interest rose to 4.5 million levs ($2.6 million/2.3 million euro) in the first nine months of 2021 from 1.4 million levs in the like period of last year.

Industrial Capital Holding's profit after taxes, including interest attributable to other shareholders in the group's units, went up to 20.3 million levs in the reporting period from 10.7 million levs in the forst nine months of 2020, the company said in an interim financial statement on Saturday.

The group's revenue jumped to 227.4 million levs in the January-September period of this year from 156.9 million levs in 2020.

Expenses increased to 205.5 million levs from 145.2 million levs a year earlier, mainly due to higher expenses for materials.

On Friday, shares in Industrial Capital Holding closed flat at a price of 2.90 levs on the Bulgarian Stock Exchange.

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)

Compare