August 15 (SeeNews) - The water utility company serving the Bulgarian capital Sofia, Sofiyska Voda, said on Wednesday that its consolidated net profit rose to 19.8 million levs ($11.4 million/10.1 million euro) in the first half of 2018 from 14.9 million levs in the same period of last year, due to a rise in revenue.
The company's total operating revenue grew to 93.7 million levs in the first six months of the year from 86.3 million levs in the corresponding period of 2017, Sofiyska Voda said in an interim financial statement.
Revenue from offered services increased to 82.2 million levs in the review period from 73.3 million levs the year before, while other operating revenue fell to 11.6 million levs from 13.1 million levs a year earlier.
The water utility's expenses in the first half of 2018 amounted to 71.8 million levs, compared to 69.8 million levs in the like period of 2017, mainly due to a rise in amortisation costs - to 20.2 million levs in January-June from 17.9 million levs the year before.
Sofiyska Voda was established in October 2000 under a 25-year concession contract for the operation and maintenance of Sofia's water supply and sewerage system. France's Veolia Water owns 77.1% of the company's capital, while the Sofia municipality holds a stake of 22.9%, according to data from Sofiyska Voda's website.
(1 euro = 1.95583 levs)