August 19 (SeeNews) - Sofiyska Voda - the water utility company serving the Bulgarian capital Sofia, said that its consolidated net profit edged up to 20.3 million levs ($11.5 million/10.4 million euro) in the first half of 2019 from 19.8 million levs in the comparable period of 2018.
Sofiyska Voda's operating revenue rose to 105.8 million levs in the first six months of the year from 93.7 million levs in the same period of 2018, the company said in an interim financial statement last week.
Revenue from the company's main activities grew by an annual 8.2% to some 88 million levs in the January-June period of 2019, backed by higher water supply prices as of January 1.
The company's operating expenses increased to 81.6 million levs in the review period from 69.9 million levs the year before, mainly due to higher expenses for construction works.
Sofiyska Voda was established in October 2000 under a 25-year concession contract for the operation and maintenance of Sofia's water supply and sewerage system. France's Veolia Water owns 77.1% of the company's capital, while the Sofia municipality holds a stake of 22.9%, according to data from Sofiyska Voda's website.
(1 euro = 1.95583 levs)