Albena Jsc's Q3 revenues total 91.83 mln leva (46.9 mln euros), which is 4.7% up from a year ago, the company states in its non-consolidated financial report.

Net sales revenues are up 5.5% y/y, from 84.81 mln to 89.44 mln leva (45.7 mln euros). The hike is attributed mainly to sales of goods (up from 37.91 mln to 43.28 mln leva) and services (from 38.72 mln to 39.21 mln leva).

The resort accommodated a total of 212,000 tourists between January and September 2008, which is 3% more than in the corresponding period a year ago. However, the number of overnight stays and the average period a tourist spends in the resort is decreasing.

Most reservations were made by guests from Russia, Romania and Bulgaria. Reservations by tourists from these three countries rose by 18%, 50% and 29%, respectively. On the other hand, guests from Germany, England and France are making less reservations.

Bulgarian tourists account for 18% of reservations in the first three quarters of the year. Foreign guests make up for 82% of reservations per night.

This year the company introduced a new vacation package – Ultra All Exclusive. “This product gained popularity among Bulgarian and Romanian clients and we will be offering the packag ein more hotels next year,” the company said.

Albena's newest 5-star hotel opened doors this year – Flamingo Grand. As of 2009 the hotel will operate all the year round. The complex has a boutique SPA center and five congress halls seating between 20 to 300 people.

Flamingo Grand is the third and last stage of the Flamingo Complex, which has a total of 450 units.

Primorsko resort reports a 1% hike in reservations per night.

Costs are also rising. Total costs are up by 8% to 68.42 mln leva (34.9 mln euros). Costs on economic elements are up from 57.79 mln to 61.8 mln leva (31.5 mln euros). Payroll costs rose by 2.5 million to 11.36 million leva (5.8 mln euros).

As at 30 September, Albena Jsc's non-consolidated profit stands at 22.29 mln leva (11.3 mln euros), which translates into 5.2 leva/share. This is 4.5% lower than the result for the corresponding period a year ago.

The stock closed -3.81% down to 36.55 leva yesterday at a turnover of 159 shares.