Industrial Holding Bulgaria's Consolidated Profit Up 42.4%

Jan – Sept consolidated profit of Industrial Holding Bulgaria rose 42.4% to 9.7 mln leva (4.960 mln euros), compared with 6.81 mln leva (3.481 mln euros) a year ago, the company's report released today informs.

The good result was attributed to a stable growth in revenues, which rose 39% to 117.26 mln leva (59.954 mln euros), versus 84.34 mln leva (43.122 mln euros) a year ago.

Revenues listed as Other grew the most, from 3.31 mln leva last year, to 16.59 mln leva on September 30. This increase was due to sales of fixed assets.

Consolidated sales revenues also rose significantly, from 63.65 mln leva (32.543 mln euros) last year, to 89.58 mln leva (45.801 mln euros).

Consolidated costs surged from 73.67 mln leva to 103.52 mln leva.

The holding has majority stakes in 18 enterprises.

Industrial Holding Bulgaria held an IPO expecting to increase capital from 26,254,040 leva (13,423,477 euros) to up to 43,756,733 leva (22,372,462 euros) via issue of up to 17,502,693 common, paperless, voting shares with a face value of 1 leva and issue value of 2.40 leva.

At the auction held November 20 on BSE all 6,340,138 rights changed hands.

Shares rose 1.5% so far this morning to an average of 10.98 leva. A total of 47,500 shares have changed hands so far today on the stock market.

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