Bulgaria's Trace Group Hold Lifts H1 Non-Cons Net Profit, Lowers Revenue

Bulgaria's Trace Group Hold Lifts H1 Non-Cons Net Profit, Lowers Revenue

Bulgarian construction company Trace Group Hold [BUL:T57] said that its non-consolidated net profit rose to 12.4 million levs ($7.1 million/6.3 million euro) in the first half of 2019 from 8.8 million levs in the comparable period of 2018, following a decrease in expenses. As at 14:20 CET on Wednesday, Trace Group Hold shares traded 1.45% higher at 2.80 levs on the Bulgarian Stock Exchange. Trace Group Hold's expenses fell to 53.7 million levs in the review period from 71.4 million levs the year before, as expenses for hired services dropped by an annual 29.7% to 44.3 million levs, figures from the company's interim financial statement, published on Tuesday, showed. The company's revenue decreased to 66.7 million levs in the first six months of 2019 from 80.3 million levs in the same period of last year.

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