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Bulgaria's Synergon Holding 9-mo cons net loss more than triples

Author Vasil Kolchev
Bulgaria's Synergon Holding 9-mo cons net loss more than triples Synergon/All rights reserved.

SOFIA (Bulgaria), November 26 (SeeNews) - Bulgarian diversified group Synergon Holding [BUL:SNRG] said on Friday that its consolidated net loss excluding minority interest more than tripled to 8.9 million levs ($5.1 million/4.6 million euro) in the nine months through September from 2.6 million levs in the same period of last year.

Synergon Holding's revenue grew to 369 million levs in the reporting period from 244.9 million levs in the comparable period of 2020, the company said in an interim financial statement.

The group's expenses rose to 377.9 million levs from 248 million levs a year earlier, mostly due to an increase in cost of goods sold.

As at 15:35 CET on Friday, shares of Synergon Holding traded flat at 0.66 levs on the Bulgarian Stock Exchange.

Synergon Holding was set up in 1996 as a privatisation fund under Bulgaria's voucher privatisation programme. The fund was transformed into a holding structure the following year. It has more than 25 subsidiaries and affiliated companies operating in various sectors of the Bulgarian economy.

(1 euro = 1.95583 levs)