11 of the 20 Largest Companies on BSE Report Three-Digit Growth On Nine Month Results

11 of the 20 Largest Companies on BSE Report Three-Digit Growth On Nine Month Results

The financial results of the 20 largest companies on BSE rose by a total of 53% year on year, shows Profit.bg data.

Only two companies report negative results for the period. These are Bulgarian Telecommunications Company (BTC) and CB Economic and Investment Bank (EIBank). Both companies are soon to be delisted from the stock exchange, which will make Chimimport the leader in terms of profit.

Doverie United Holding posts the largest growth in earnings – 503%, followed by Corporate Commercial Bank (322%), Chimimport (280%), and First Investment bank (FIB) (275%).

The total hike in profit of all companies came to just 53% because of the large loss posted by BTC.

If we exclude BTC and and EIBank, the growth in profit of the remaining 18 companies will come to 115%. The earnings of 11 of the 20 companies have grown by three-digit figures.

Banks are holding strong positions in the list, all 5 public creditors in Bulgaria are in the top 20. Bulgarian-American Credit Bank and First Investment Bank rank 3rd and 4th in the profit chart, with respectively, 38.3 mln leva (19.582 mln euros) and 34.3 mln leva (17.537 mln euros), which is way lower than the leaders.

EIBank, Corporate Commercial Bank and Central Cooperative Bank are 9th, 11th and 12th with results between 18 and 22 mln leva.

Five holdings are in the chart, these areChimimport, Doverie United Holding, Holding Patishta and Industrial Holding Bulgaria.

Top 20 also includes a glass manufacturer – Drujba Staklasrki Zavodi, a pharmaceutical company – Sopharma, a tobacco company – Blagoevgrad BT, and a representative of the extraction industry – Oil and Gas Exploration and Production.

The chart includes the paints and lacquers manufacturer – Orgachim, the battery manufacturer Monbat, as well as a leading company in the sector of tourism - Albena.

Katex Jsc made it in the chart not because of its operating earnings, but because of selling a large stake in EIBank.

More details can be found in the table below:

 CompanyProfit on 30 sept '07 (in mln BGN)Profit on 30 sept '06 (in mln BGN)Difference
1Bulgarian Telecommunications Company95,02133,56-28,85%
3CB Bulgarian-American Credit Bank38,3324,2458,10%
4First Investment Bank34,359,17274,55%
5Drujba Staklarski Zavodi27,8515,4680,20%
6Albena 27,3523,3817,01%
8Blagoevgrad BT25,9015,4467,75%
9CB Economic and Investment Bank22,6126,88-15,86%
10Lead and Zinc Complex21,238,70144,10%
11CB Corporate Commercial Bank18,744,44322,39%
12CB Central Cooperative Bank18,538,53117,17%
13Petrol 18,4216,899,07%
15Doverie United Holding16,752,78502,99%
16Holding Patishta16,655,43206,48%
20Industrial Holding Bulgaria9,706,8142,40%

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