Chimimport posted consolidated H1 profit at 60.4 mln leva (0.46 leva per share), in comparison with 2.96 mln leva a year ago, the company's consolidated report reveals.

Revenues grew 25.1% in H1 to 921.28 mln leva, compared with 736.5 mln leva a year ago. The increase is attributed entirely to rising revenues from core actvity.

Consolidated core activity revenues grew 119% to 149 mln leva.

Revenues from interest rates represent an important part of total revenues - 40.36 mln leva in H1, or 42.2% more than the 28.39 mln leva posted in H1 last year.

Consolidated costs also rose signifacantly – 16.6% to 849.17 mln leva year-on-year.

The reason is rising costs in core activity, as well as interest payments.

The holding is planning a capital increase from the current 130 mln leva to 150 mln leva via the issuance of 20 mln shares with emission value of 11 leva, Chimimport announced last month.

The company expects to raise a net 219 mln leva from the public offering after costs.

The funds will be used to finance the group's activities, to finance subscription of shares from the forthcoming capital increase of Central Cooperative Bank, acquisition of stakes in Zarneni Hrani Bulgaria EAD, Zarneni Hrani Balcik EAD, and Prima Ahrohim at an estimated value of at least 61.23 mln leva, etc.

The company will increase capital by issuing rights, 6.5 rigths will entitle to the subscription of 1 share. Chimimport expects trade with the rights to take place between 10 and 21 September, and that the auction for unused rights will be held 2 October.