Blagoevgrad BT's 1H profit more than doubled from 7.16 mln leva (36.608 mln euros) to 15.41 mln leva (7.880 mln euros), shows the non-consolidated report posted by the company today.

The good results are attributed mainly to the 36.4% hike in revenues, which stand at 99.4 mln leva (50.822 mln euros) for the period, compared with 72.9 mln leva (37.273 mln euros) a year ago. The increase comes entirely from the company's core activity.

Costs grew 27.7% year-on-year, from 64.43 mln leva (32.942 mln euros) to 82.27 mln leva (42.063 mln euros).

The company has a core capital in the amount of 2.7 mln leva (1.380 mln euros) and own capital at 196.8 mln leva (100.622 mln euros), according to 1H data.

The stock added 6.3% today after the report was released. 316 shares changed hands at an average of 65.06 leva. At the end of the bourse session bids were at 63 leva and asks at 69 leva.

At a meeting held 19 June, shareholders approved to pay out 50% of 2006 income, or 3 958 038.38 leva (2 023 712.88 euros) as dividend (i.e. 1.4645 leva per share).

The remaining 50% of the profit will be used to pay bonuses to the members of the Board of Directors, and the rest will go to the Other Reserves Fund.