November 23 (SeeNews) - Bulgarian telecommunications and IoT products company Allterco [BUL:A4L] said on Friday that its consolidated net profit halved to 542,000 levs ($315,000/277,000 euro) in the first nine months of the year from 1.1 million levs in the same period of 2017.
The company's total operating revenue edged down to 29.5 million levs in the January-September period from 29.6 million levs in the comparable period of 2017, Allrerco said in an interim financial statement.
Total operating expenses increased to 28.6 million levs in the review period from 28.2 million levs the year before, as salary costs rose to 3.9 million levs from 3.4 million levs a year earlier.
Allterco is due to hold an extraordinary shareholders meeting on December 5, where a proposal to sell its five telecommunications subsidiaries to Norway's LINK Mobility Group will be put to a vote. The purchase price will be at least 7.9 million euro.
The deal includes all shares in Allterco's units in Bulgaria - Teravoice, Tera Communications and Alterpay, as well as its Romania-based subsidiary Teracomm RO and Macedonia-based Tera Communications DOOEL.
(1 euro = 1.95583 levs)