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SOFIA (Bulgaria), September 7 (SeeNews) - Bulgaria's Industrial Capital Holding [BUL:HIKA] said on Wednesday that its consolidated net profit excluding minority interest jumped to 4.76 million levs ($2.4 million/2.4 million euro) in the first half of 2022 from 3.4 million levs in the same period of last year.
Industrial Capital Holding's profit after tax, including interest attributable to other shareholders in the group's units, rose to 21.7 million levs at the end of June from just over 14 million levs a year earlier, the company said in an interim financial statement.
The diversified group's overall revenue grew to 198.7 million levs in the first half of this year from 149.8 million levs in the same period of 2021, mostly driven by a jump in sales of producs, which are primarily destined for export.
Expenses increased to 175.1 million levs from 134.6 million levs, largely on the back of higher expenses for materials, hired services and personnel.
Industrial Capital Holding consolidates the results of two majority-owned units - machine manufacturer Siloma and supporting components producer Rubolt, as well as three affiliates - cable producer Emka [BUL:EMKA], hydraulic equipment manufacturer M+S Hydraulic [BUL:MSH] and abrasive tools maker ZAI.
In June, shareholders in Industrial Capital Holding approved the distribution of a dividend of 0,0947 levs per share for 2021, or 1.49 million levs out of the group's total net profit of 1.86 million levs for last year.
Shares in Industrial Capital Holding last closed flat at 2.88 levs on Monday. The Bulgarian Stock Exchange was closed on Tuesday for Unification Day.
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