May 29 (SeeNews) - Bulgaria's Industrial Capital Holding [BUL:4I8] said on Friday that its consolidated net profit excluding minority interest fell to 725,000 levs ($412,000/371,000 euro) in the first quarter of 2020 from 1.2 million levs in the same period of last year.
Industrial Capital Holding's profit after taxes, including interest attributable to other shareholders in the company's subsidiaries, fell to 4.7 million levs in the January-March period of 2020 from 5.6 million levs in the comparable period of 2019, Industrial Capital Holding said in an interim financial statement.
The holding company's consolidated revenue edged down to 56.1 million levs in the first three months of the year from 57.5 million levs in the like period of 2019.
Operating expenses fell to 51 million levs in the review period from 51.4 million levs a year earlier, mostly due to a 1 million levs decrease in expenses for materials.
Industrial Capital Holding owns stakes in ten local companies and consolidates the results of five of them - machinery manufacturer Siloma, supporting components maker Rubolt, cables producer Emka [BUL:57E], hydraulic equipment manufacturer M+S Hydraulic [BUL:5MH] and abrasive tools producer ZAI.
(1 euro = 1.95583 levs)