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Bulgaria's Trace Group Hold 9-mo cons net profit declines sharply

Bulgaria's Trace Group Hold 9-mo cons net profit declines sharply Author: Trace Group Hold. Licence: All rights reserved.

SOFIA (Bulgaria), November 30 (SeeNews) - Bulgarian infrastructure construction company Trace Group Hold [BUL:T57] said it closed the first nine months of 2021 with a consolidated net profit of 2.2 million levs ($1.3 million/1.1 million euro), compared to a net profit of 9 million levs a year earlier, as revenue plummeted.

Trace Group Hold's revenue fell to 105.5 million levs in the first nine months of this year from 158.7 million levs in the same period of 2020, the company said in an interim financial statement on Monday.

The company's operating expenses decreased to 102.3 million levs in the review period from 147.1 million levs a year earlier, mostly due to lower expenses for hired services and materials.

As at 15:57 CET on Tuesday, shares in Trace Group Hold changed hands 1.07% lower at 3.70 levs on the Bulgarian Stock Exchange (BSE).

Trace Group Hold's activities include rehabilitation, reconstruction and construction of roads, highways, airports, underground stations and underground railways and stations, surface railroads and facilities, urban infrastructure and road marking.

(1 euro = 1.95583 levs)

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