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Bulgaria's Trace Group swings to cons net loss in H1

Author Radina Veleva
Bulgaria's Trace Group swings to cons net loss in H1 Author: Trace Group Hold. Licence: All rights reserved.

SOFIA (Bulgaria), August 31 (SeeNews) - Bulgarian infrastructure construction company Trace Group Hold [BUL:T57] said it closed the first half of 2021 with a consolidated net loss of some 3.2 million levs ($1.9 million/1.6 million euro), compared to a net profit of 1.6 million levs a year earlier, as revenue fell sharply.

Trace Group Hold's revenue decreased to some 60.4 million levs in the first six months of this year from 85.6 million levs in the same period of 2020, the company said in an interim financial statement on Monday.

The company's operating expenses also decreased, to some 63.1 million levs from 82.5 million levs, mostly due to lower expenses for hired services, the financial statement showed.

Shares in Trace Group Hold closed at 3.50 levs on the Bulgarian Stock Exchange (BSE) on Monday, bourse data showed.

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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