Bulgaria's TK-Hold lowers 9-mo cons net profit on revenue decrease

Bulgaria's TK-Hold lowers 9-mo cons net profit on revenue decrease

Bulgarian diversified group TK-Hold said on Thursday that its consolidated net profit excluding minority interest plunged to 776,000 levs ($437,000/397,000 euro) in the first nine months of the year from 3 million levs in the same period of 2018.TK-Hold's operating revenue fell to 13.1 million levs in the January-September period of the year from 16.3 million levs in the like period of last year, the company said in an interim financial statement.Operating expenses decreased to 12.5 million levs in the review period from 13.1 million levs the year before. Last year, TK-Hold's unit Programni Producti i Sistemi sold its 100% stake in Hotel SPS for 3.8 million euro.TK-Hold controls stakes in 19 companies active in various segments of the economy, including fuel retail, textile manufacturing, furniture production, etc.

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