Bulgaria's Port of Burgas reports rise in 9-mo net profit, revenue

Port of Burgas' revenue rose to 6.5 million levs in the January-September period of 2019 from 5.7 million levs in the comparable period of 2018, the company said in an interim financial statement.

The port operator serviced 409,000 tonnes of cargo, up by 25.8% compared with the same period of last year, and 21% higher than the company's business plan.

The rise was mostly due to a sharp increase in fertilisers handled at the Black Sea port - 125,000 t. in January-September, compared to just 9,000 t. in the prior-year period.

The company's operating expenses increased to 5.4 million levs in the review period from 4.7 million levs the year before.

Personnel expenses rose the most - to 2.3 million levs from 1.9 million levs a year earlier. The average salary paid by the company increased by an annual 22.4% to 1,390 levs.

The number of people employed by Port of Burgas decreased to 175 at the end of September from 178 a year earlier.

The company also reported a notable increase in working capital - to 2.2 million levs at the end of September from 691,000 levs at the end of 2018.

(1 euro = 1.95583 levs)