November 27 (SeeNews) - Bulgarian resort operator Albena [BUL:5AB] said on Tuesday that its consolidated net profit, excluding minority interest, fell to 20.9 million levs ($12.1 million/10.7 million euro) in the first nine months of the year from 23.6 million levs in the comparable period of 2017.
The company's total operating expenses rose to 100.2 million levs in the January-September period from 94.9 million levs in the same period of last year, Albena said in an interim financial statement.
Albena's amortisation costs grew to 16 million levs in the review period from 13 million levs the year before, while salary expenses increased to 25 million levs from 22.3 million levs a year earlier.
The company also managed to grow its total operating revenue to 122.6 million levs in the first three quarters of the year from 120 million levs in the like period of 2017, despite the lack of assets sales in the review period, compared to 7.9 million levs in gains from asset sales in the prior-year period.
Last month, Albena signed a franchise agreement regarding its Paradise Blue Hotel and Spa complex with international chain Maritim Hotels. Paradise Blue Hotel and Spa offers 238 rooms.
(1 euro = 1.95583 levs)