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Sep 23, 2020 10:26 EEST
September 23 (SeeNews) - Bulgarian construction company Trace Group Hold [BUL:T57] said that its non-consolidated net profit dropped to 5.8 million levs ($3.5 million/3 million euro) in the first half of 2020 from 12.4 million levs in the same period of 2019, following a decrease in revenue.
Trace Group Hold generated revenue of 47.1 million levs in the first six months of 2020, down from 66.7 million levs in the comparable period of last year, the company said in an interim financial statement on Monday.
The company also lowered its operating expenses to 39.6 million levs in the review period from 53.7 million levs the year before, due to a decrease in expenses for materials and hired services.
Trace Group Hold rejoined the composition of the Bulgarian Stock Exchange blue-chip SOFIX index on Monday. The company's shares last traded at a price of 3.52 levs.
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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