November 28 (SeeNews) - Bulgarian building materials retailer Toplivo [BUL:3TV] said on Wednesday that it widened its consolidated net loss to 4.5 million levs ($2.6 million/2.3 million euro) in the January-September period of 2018 from 3.5 million levs in the same period of last year, following a rise in expenses.
Toplivo's total operating expenses increased to 188.4 million levs in the first nine months of the year from 157.8 million levs in the prior-year period, the company said in an interim financial statement.
The spike can mainly be attributed to the rise in cost of goods sold, which amounted to 165.5 million levs in the nine months through September, compared to 137.6 million levs a year earlier.
The company's operating revenue totalled 183.7 million levs in the review period, up from 154.3 million levs the year before.
Toplivo is majority owned by local Synergon Holding [BUL:6S7].
(1 euro = 1.95583 levs)