December 2 (SeeNews) - Bulgarian construction company Trace Group Hold [BUL:T57] said that its consolidated net profit nearly tripled to 10.7 million levs ($6 million/5.5 million euro) in the first nine months of 2019 from 3.3 million levs in the same period of 2018.
As at 8:40 CET on Monday, Trace Group Hold shares traded 4.79% higher at 3.50 levs the Bulgarian Stock Exchange.
Trace Group Hold lowered its expenses to 204.1 million levs in the January-September period of 2019 from 238.8 million levs in the comparable period of 2018, the company said in an interim financial statement on Friday.
The company mostly cut back on its expenses for hired services, which decreased to 119.8 million levs from 152 million levs.
Trace Group Hold's revenue fell to 217.2 million levs in the review period from 243 million levs the year before.
The company's assets increased to 235 million levs at the end of September from 221.2 million levs at the end of 2018.
(1 euro = 1.95583 levs)