Bulgaria's Rodna Zemya Holding boosts 9-mo cons net profit

Revenue improved to 136 million levs in the nine months through September from 119.2 million a year earlier, Rodna Zemya said in an interim financial statement on Tuesday.

The company booked operating expenses of 129.5 million levs after 114.09 million levs a year earlier. The rise was mainly due to higher cost of goods sold.

Rodna Zemya confirmed that it has not identified an increased risk to its operations from the war in Ukraine and the related international sanctions against Russia. Still, investments in subsidiaries and in debt and capital instruments could be indirectly impacted by the situation in Ukraine, the long-term effects from the coronavirus pandemic and the trends in the Bulgarian economy, the company warned.

As of September 30, the group’s members included commercial brokerage firm Haedus, building materials retailer Baumax, retailer B&O Haedus EOOD, real estate and construction firm Agrobusiness Estate, investor Puldin Properties Invest, DIY-chain operator HIT Hypermarket and real estate and construction firm Retail Park Misionis.

As at CET 1102 on Friday, shares in Rodna Zemya Holding traded flat at 2.84 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)