November 25 (SeeNews) - Bulgarian diversified group Stara Planina Hold [BUL:5SR] said on Wednesday that its consolidated net profit excluding minority interest fell to 4.9 million levs ($3 million/2.5 million euro) in the first nine months of the year from 6.2 million levs the year before.
The group’s profit after taxes, including interest attributable to other shareholders in Stara Planina Hold’s subsidiaries and affiliates, decreased to 12.5 million levs in the review period from 15.5 million levs a year earlier, the company said in an interim financial statement.
The large difference in Stara Planina Hold’s after-tax and net profit is mostly due to the minority interest it owns in the largest company which it consolidates - hydraulic equipment manufacturer M+S Hydraulic [BUL:5MH].
Stara Planina Hold's consolidated expenses fell to 138.1 million levs in the first nine months of the year from 159.5 million levs in the same period of 2019.
As at 14:30 CET on Wednesday, shares in Stara Planina Hold traded 2.08% own at 4.7 levs on the Bulgarian Stock Exchange.
Stara Planina Hold consolidates the results of six majority-owned subsidiaries and four affiliates. The holding company's investment portfolio includes companies from the sectors of machine building, electrical engineering and perfumery and cosmetics.
(1 euro = 1.95583 levs)