Toplivo AD's 1H Profit Dips To 568,000 Leva

Toplivo AD's 1H profit dips to 568,000 leva (290,413 euros), compared with 1.568 mln leva (801,705 euros) a year ago, shows the company's report filed filed with the BSE.

Net sales revenues are up 5.9% to 126.3 mln leva (64.576 mln euros), against 119.2 mln leva (60.946 mln euros) in the respective period a year ago. Total costs increase to 125.7 mln leva (64.269 mln euros), against 117.65 mln leva (60.153 mln euros).

Toplivo () has a core capital in the amount of 5.417 mln leva (2.769 mln euros) and equity capital at 88.75 mln leva (45.377 mln euros).

The company traditionally invests in trade with construction materials – 37%, heating materials – 12%, liquid fuels – 24%, propane butane gas – 27%.

The company operates a large network of 250 commercial centers, shops, gas stations etc., and 130 other bases, situated in 196 cities or residential districts around the country.

Toplivo saw a significant decline in sales of liquid fuels in this first half, which is mainly due to the increasing market shares of powerful companies such as Shell, OMV, Lukoil and Petrol.

Main shareholder is Sinergon Holding AD controlling 3 961 235 shares, or 73.13% of the capital.

On May 30, Toplivo signed a contract for the purchase of 3 properties in Sofia, Mladost 1-A Area, Blvd Alexander Malinov. The company intends to build a business center on the sites.

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