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Oct 22, 2007 12:57 EEST
October 22 (SeeNews) - Bulgarian industrial group Synergon Holding expects its net profit this year to be the same as its last year's earnings of 14.8 million levs, the company said on Monday.
Synergon Holding said on Friday it has sold has sold 95.12% of its electrodes manufacturer Electrodes to UK welding materials producer ESAB, for 6.8 million euro ($9.7 million).
“The sale of Electrodes as part of the restructuring of the holding company will have a positive impact on the financial results and they will not differ from last year’s result,” Synergon Holding executive director Marin Stoianov told a news conference.
Shares in Synergon, part of BG 40 tracking the 40 most liquid stocks on the Bulgarian Stock Exchange, closed 2.0% higher at 16.50 levs ($12.08/8.46 euro) on Monday.
(1 euro = 1.95583 Bulgarian levs)
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