Toplivo's Q1 Profit Up 19.7% Y/Y

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Toplivo's Q1 Profit Up 19.7% Y/Y

Toplivo's non-consolidated profit for the first three months of 2008 marked a 19.7-percent year on year increase, the quarterly report of the company, published by the Bulgarian Stock Exchange (BSE), shows.

Toplivo posted 565,000 leva (288,900 euros) profit for the first three months of 2008, compared to 472,000 leva (241,330 euros) booked a year earlier.

The revenue of the company rose by 30.1% to 77.43 mln leva (39.58 mln euros) as at March 31, 2008. The revenue from product sales marked the biggest increase.

The costs of the company totaled 76.87 mln leva (39.3 mln euros) in the first quarter of 2008, compared to the 59 mln leva (30.16 mln euros) posted for the year-ago period. The increase may also be put down to the costs related to the core activity of the company.

Synergon Holding is a majority shareholder in the company with a 72.67-percent stake of Toplivo's capital.

A total of 18 shares in the company changed hands today. The stock appreciated by 1.5% to 19.42 leva (9.29 mln euros) per share.

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