Bulgaria’s Synergon Holding 9-mo cons net profit slumps 70% y/y

The company's revenue in the nine months through September went down to some 670.3 million levs from 925.5 million levs in the prior-year period, Synergon said in an interim financial statement.

Sales of goods dropped by an annual 28% to some 645.8 million levs on the back of a decline in sales of electricity, gas and liquid fuels, Synergon said.

Meanwhile, the company's operating expenses narrowed to 656.3 million levs in January-September from 888.3 million levs a year earlier, mainly due to lower costs for goods sold.

Synergon Holding has direct ownership in 17 local subsidiaries as well as indirect stakes in subsidiaries and affiliated companies, such as Interia Terstie, Synergon Petroleum, Synergon Imoti and Synergon Energy Skopje in North Macedonia.

As of 1550 CET on Tuesday, shares in Synergon traded 1.02% higher at 0.995 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)