November 26 (SeeNews) - Bulgaria's Industrial Capital Holding [BUL:4I8] said on Thursday that its consolidated net profit excluding minority interest fell to 1.4 million levs ($852,000/716,000 euro) in the first three quarters of 2020 from 1.9 million levs in the same period of 2019.
Industrial Capital Holding's profit after taxes, including interest attributable to other shareholders in the company's subsidiaries and affiliates, declined to 10.7 million levs in the January-September period of 2020 from 12.3 million levs in the comparable period of last year, the company said in an interim financial statement.
The group's revenue decreased to 156.9 million levs in the review period from 170.3 million levs the year before.
Industrial Capital Holding also lowered its consolidated expenses, to 145.2 million levs from 156.8 million levs a year earlier, mostly due to a fall in 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:57E], hydraulic equipment manufacturer M+S Hydraulic [BUL:5MH] and abrasive tools producer ZAI.
(1 euro = 1.95583 levs)