The net profit of the majority state owned tobacco holding Bulgartabac surged by 43.5% y/y to BGN 20.9mn (EUR 10.7mn) in Jan-Sep, according to the non-consolidated financial report of the holding presented on the website of the local stock exchange. The revenues of Bulgartabac increased by 16% to BGN 42.8mn for the same period. The last quarter of the year should be even more successful for the holding due to the EUR 16.6mn sell-out of the printing and paper packaging plant Jurii Gagarin completed in early October. The holding will also run several auctions for loss-making tobacco processing units by the end of the year but will keep control of the main cigarette production plants.
Source: IntelliNews - Bulgaria Today