Bulgaria's Holding Varna 9-Mo Cons Net Profit, Revenue Rise

Bulgaria's Holding Varna 9-Mo Cons Net Profit, Revenue Rise

Bulgarian diversified group Holding Varna  said on Wednesday that its consolidated net profit, excluding interest attributable to minority shareholders in the group's units, rose to 4.2 million levs () in the first nine months of the year from 3.8 million levs in the same period of 2017.The company's operating revenue grew to 64.5 million levs in the January-September period from 56.4 million levs in the comparable period of last year, Holding Varna said in an interim financial statement. Holding Varna's operating expenses increased to 57.6 million levs in the review period from 51.0 million levs in the prior-year period, as salary expenses rose to 16.2 million levs from 12.5 million levs a year earlier. The company is currently in the process of increasing its capital, as it is seeking to raise up to 45 million levs via the issuance of up to 1.25 million shares.

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