Bulgaria’s Stara Planina Hold 9-mo cons net profit falls 17.6%

Consolidated net sales revenue fell to 126.1 million levs in the nine months through September from 143.6 million levs in the same period a year earlier, Stara Planina Hold said in a note to investors.

Its consolidated income from dividends rose to 2.56 million levs through September from 1.43 million levs a year earlier.

The company expects business situation to remain difficult at least by the end of the first half of next year and hopes for recovery in the second half. It also said it will continue its efforts to enter new markets, including the Far East, Australia, Canada and America.

Stara Planina Hold, a component of the blue-chip SOFIX index of the Bulgarian Stock Exchange, closed 0.31% higher at 2.27 levs in a volume of 1,045 shares on Wednesday.

(1 euro = 1.95583 Bulgarian levs)