Eurohold Bulgaria AD Posts 3.45 Mln Leva Non-Consolidated Profit In First Half

Eurohold Bulgaria AD () reported non-consolidated revenues to the amount of 4.182 mln leva (2.138 mln euros) for the first six months of the year. Dividends account for 3.180 mln leva (1.625 mln euros) of all revenues. The company's profit for the period stands at 3.451 mln leva (1.764 mln euros).

Eurohold Bulgaria's core capital was increased to 95.915 mln leva (49.040 mln euros) from 50.606 mln leva (25.874 mln euros) at end of 2006. As of June 30, investments in subsidiaries amount to 51.187 mln leva (26.171 mln euros), compared with 25.823 mln leva (13.203 mln euros) at the end of 2006.

The company increased capital from 50 mln leva (25.564 mln euros) to 62.5 mln leva (31.955 mln euros) by issuing 12.5 mln new shares with emission value of 3.35 leva.

We cannot compare this year's 1H financial indicators of teh company with 2006 1H, since the merger between Starcom Holding and Eurohold took place at the end of 2006.

We remind that last week, Eurohold Bulgaria AD obtained the approval of the Romanian Insurance Supervisory Board for the acquisition of Romanian insurer Asitrans Asigurari.

The total amount of the company's investment in the acquisition process, including obtaining more than 75% of the capital, stock payment, capital increase, software and oparational integration of the new company, as well as the acquisition of a majority stake in the leasing company Asitrans Leasing before the end of 2007, is estimated at 12.5 mln euros.

Bulgarian Holding Corporation AD controls 64% of the capital of Eurohold Bulgaria.

So far on teh BSE today, the company's stock has added 3.33% to 5.28 leva.

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