Bulgaria’s Solarpro Holding 9-mo cons net profit drops

Bulgarian provider of products and services for the solar industry Solarpro Holding [BUL:0S8] said its consolidated net profit fell to 2.8 million levs ($1.7 million/1.4 million euro) in the first nine months of 2017 from 4.4 million levs in the prior-year period.

The company's operating revenue rose to 14.0 million levs in the January-September period from 10.3 million levs the year before, Solarpro Holding said in a financial report filed with the Bulgarian Stock Exchange on Wednesday.

Total consolidated operating expenses increased to 11.2 million levs in the review period from 5.9 million levs in the like period of 2016.

Earlier this month, Bulgaria’s financial regulator said it has temporarily suspended a bid by local company Alfa Finance Holding to acquire the remaining 5.54% stake in Solarpro Holding it does not already own. Alfa Finance has proposed to pay 0.76 levs per each of the 2.59 million shares of Solarpro Holding it aims to acquire, the Financial Supervision Commission said.

Solarpro also operates in Romania and Macedonia.

(1 euro=1.95583 levs)

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