Industrial Holding Bulgaria posted a consolidated profit in the amount of 2.114 mln leva for 2007 1Q which is 33% more than the 1.591 mln leva posted in 2006 1Q, shows the company's report filed with the BSE.

Net sales revenues are up 16% to 18.262 mln leva against 15.744 mln leva a year ago. This figure includes 1.823 mln leva from ship construction and 1.152 from ship repairs. Financial revenues in the period are down from 1.117 mln leva to 904,000 leva.

The company's total expenditures reached 15.94mln leva (up 13.3% from 14.073 mln leva for the respective period a year ago).

IH Bulgaria has a core capital of 21.003 mln leva. A general meeting of shareholders scheduled for July is to vote a proposal for converting of bonds into shares by which the capital will be increased to 26.26 mln leva.

The holding's total liabilities are in the amount of 70.5 mln leva and its opearting funds and equivalents stand at 13.2 mln leva.

Main shareholders in IH Bulgaria are Venside Enterprises AD with 36.31% of the capital and DZH AD whith 6.77%.

The company's stock dropped 0.25% to an average of 8.03 leva during trade yesterday when a total of 4 710 lots were transferred.