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Bulgaria's Sofia Hotel Balkan pares 9-mo loss on higher revenue

Bulgaria's Sofia Hotel Balkan pares 9-mo loss on higher revenue Photo: Sofia Hotel Balkan / All rights reserved.

SOFIA (Bulgaria), November 25 (SeeNews) - Bulgarian hotel operator Sofia Hotel Balkan [BUL:SHB] said on Thursday that it recorded a consolidated net loss of some 2.8 million levs ($1.6 million/1.4 million euro) in the first nine months of 2021, compared to a net loss of 7.5 million levs in the like period of last year.

Consolidated revenue went up to 13.3 million levs in the nine months through September, from 7.4 million levs in the comparable period of 2020, Sofia Hotel Balkan said in an interim financial statement.

The expenses of the hotel operator also increased - to 16.1 million levs from 14.9 million levs, mostly due to higher expenses for hired services.

The assets of Sofia Hotel Balkan edged down to 187.9 million levs at the end of September from 188.7 million levs a year earlier.

(1 euro = 1.95583 levs)

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