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Higher expenses drag down CEZ Distribution Bulgaria's 9-mo cons net profit

Higher expenses drag down CEZ Distribution Bulgaria's 9-mo cons net profit Photo: CEZ Distribution Bulgaria / All rights reserved.

SOFIA (Bulgaria), December 1 (SeeNews) - Power grid operator CEZ Distribution Bulgaria [BUL:CEZD] said that its consolidated net profit fell to 30 million levs ($17.4 million/15.3 million euro) in the nine months through September, from 39.9 million levs in the comparable period of last year.

The company's expenses went up to 263.3 million levs in the first nine months of this year from 229.6 million levs in January-September 2020, with the most notable increase registered in expenses for hired services and salaries, the company said in an interim financial statement on Tuesday.

At the same time, revenue rose to 295.8 million levs in the review period, from 274.5 million levs in the first nine months of 2020.

As at 14:12 CET on Wednesday, shares in CEZ Distribution Bulgaria traded flat at 280 levs, Sofia bourse data showed.

(1 euro = 1.95583 levs)

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