Bulgaria's Sofia Tech Park Turns to H1 Net Loss on Drop in Revenue

Bulgaria's Sofia Tech Park Turns to H1 Net Loss on Drop in Revenue

Bulgarian state-owned Sofia Tech Park turned to a net loss of 2.9 million levs ($1.7 million/1.5 million euro) in the first half of 2018 from a net profit of 1.0 million levs in the corresponding period of last year, the company's financial report shows.The company did not gain any funds from real estate deals during the first six months of the year, while it received 4.7 million levs from such operations in the same period of 2017, according to figures from its unaudited financial report.Sofia Tech Park benefited from 3.1 million levs of EU financing during the review period, down from 4.4 million levs a year earlier.Amortisation costs decreased to 5.3 million levs in the first half of the year from 5.6 million levs the year before.(1 euro = 1.95583 levs)

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