July 6 (SeeNews) - Bulgarian construction company Trace Group Hold [BUL:T57] said that its standalone net profit fell to 6.6 million levs ($3.8 million/3.4 million euro) in the first quarter of 2020 from 9.4 million levs in the same period of last year, due to a decrease in revenue.
Trace Group Hold's operating revenue decreased to 23.4 million levs in the first three months of the year from 32.1 million levs in the comparable period of 2019, it said in an interim financial statement on Friday.
The company also lowered its operating expenses to 16.1 million levs in the review period from 22.7 million levs the year before, largely due to a 3.8 million levs reduction in expenses for hired services and a 2 million levs decrease in expenses for materials.
As at 10:30 CET on Monday, Trace Group Hold shares traded 1.09% higher at 3.72 levs on the Bulgarian Stock Exchange.
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)