Bulgarian tourist company Zlatni Pyasatsi, which operates the Black Sea resort Zlatni Pyasatsi (Golden Sands), swung to a loss of nearly 4.5 mln Bulgarian levs ($3.5 mln/2.3 mln euro) in 2007 from a year-ago profit of 1.6 mln levs ($1.2 mln/818,000 euro), the company’s consolidated financial report filed with the local bourse showed.
Net sales rose to 51.6 mln levs ($39.8 mln/26.4 mln euro) from 42.2 mln levs ($32.6 mln/21.6 mln euro), while expenses jumped to 54.3 mln levs ($41.9 mln/27.8 mln euro) from 38.3 mln levs ($29.6 mln/19.6 mln euro).
Zlatni Pyasatsi's authorised capital stands at 6.493 mln levs ($5.0 mln/3.3 mln euro). Its consolidated own capital amounted to 96.2 mln levs ($74.3 mln/49.2 mln euro) at end-2007.
Zlatni Pyasatsi’s shareholders decided at an extraordinary meeting on February 8 to sell a real estate in the eponymous resort to Zlatni. The latter controls 63.84 pct of the tourist company and will buy the property for 526,000 euro ($794,000), Value Added Tax excluded. The sum will be paid in four installments.
(Note: Unless otherwise stated, all figures/comparisons are for 2007/ 2006.)
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