Wed, Mar 10 2010

Energoremont Holding Ltd reports rise in profits up to 10M leva

Fri, Oct 30 2009 12:13 CET byNick Iliev 1163 Views
Energoremont Holding Ltd reports rise in profits up to 10M leva

Energoremont CEO Teodor Osikovski

Photo: Cvetelina Nikolaeva

For the first nine months of 2009, Energoremont Holding Ltd declared a non-consolidated profit of 10 million leva, or 5.2 times the profit compared to the corresponding January-September period in 2008, Investor.bg reported on October 30 2009.

The increase in profits came on the back of a quadruple rise of sales, amounting to 111 million leva, while the company's net operating capital is 30 million leva, the report says.

Energoremont is employed in the sphere of rehabilitation, reconstruction, and modernisation of energy installations in hydro power plants, thermal power plants and nuclear power plants. The company is also branching out in chemical research and metallurgy, Investor has said.

The firm has invested in 11 daughter firms and other affiliated branches in the energy sector. The company's own capital as of September 30 amounts to 26.3 million leva while it owes 52 million mainly to distribution companies.

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