November 13 (SeeNews) - Bulgarian software developer Sirma Group Holding [BUL:SKK] said on Tuesday that its consolidated net profit rose to 3.3 million levs ($1.9 million/1.7 million euro) in the first nine months of the year from 1.7 million levs in the same period of 2017.
Sirma Group Holding's after tax profit, which includes profit attributable to minority shareholders in its subsidiaries, increased to 5.3 million levs in the January-September period from 3.3 million levs in the comparable period of 2017, the group said in an interim financial statement.
The group's operating revenue grew to 45.2 million levs in the review period from 37.5 million levs the year before, following a 24% rise in revenue in the company's strongest region - Europe, excluding the UK.
Total operating expenses increased to 39.9 million levs in the nine months through September from 34.2 million levs a year earlier, mainly due to a rise in cost of goods sold.
In October, Sirma Group Holding acquired a 26.06% stake in its unit Ontotext from private equity fund New Europe Venture Equity L.P. for 4.2 million euro.
As at 14:05 CET on Tuesday, Sirma Group Holding shares traded 0.45% higher at 0.89 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)