BTC's Profit Dips 22% To 72 Mln Leva In First Half

The Bulgarian Telecommunications Company () posted a 1H profit in the amount of 72.44 mln leva (37.037 mln euros), against 92.86 mln leva (47.478 mln euros) a year ago, shows the company's consolidated report filed with the BSE.

Net sales revenues declined by 5 mln leva to 508.1 mln leva (259.787 mln euros). Financial revenues are down 4.3 mln leva to 1.95 mln leva (997,019 euros).

Costs on economic elements increased by 40 mln leva to 413.5 mln leva (211.419 mln euros), of which 186.3 mln leva is spent on external services, amortization accounts for 93.5 mln leva, and payroll costs for 60.4 mln leva. Financial costs for the period stand at 15.2 mln leva.

The company has equity capital in the amount of 288 mln leva (147.252 mln euros), and own capital at 1.07 mln leva (547,082 euros). Assets stand at 2 bln leva (1.022 bln euros), and total liabilities at 924 mln leva (472.433 mln euros).

On May 3 this year Novator, Viva Ventures and AIG Global Investment Group (AIGGIG) (via its AIG Capital Partners) signed an agreement under which AIGGIG acquires the 65% stake in BTC owned by Viva Ventures.

The agreement is subject to several conditions, one of which is obtaining the approval of the regulatory bodies. As of the issue date of the company's 1H report the deals has not been finalized.

6525 shares changed hands on the position yesterday at 10.87 leva.

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