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Bulgarian Moststroi predicts 50 million leva revenue for 2009

Mon, Mar 30 2009 14:55 CET byNick Iliev 856 Views
Bulgarian Moststroi predicts 50 million leva revenue for 2009

Bulgarian bridge construction company Moststroi AD envisages 50 million leva revenue generated from construction, installation and maintenance projects for 2009, an official statement from the company revealed, as presented through a bulletin by Investor.bg

The forecast is based on calculations accumulated from confirmed orders and projects that have received approval and are pending to commence construction.

Last year, Moststroi predicted revenue worth 47 million leva, while it actually realised non-consolidated revenue of slightly more than 22.7 million leva.

"Last year's negative economic influences affected all companies in the sector, Moststroi included. Complications therefore emerged with processing structural funds from the European Commission. Numerous infrastructure projects were either halted, or scrapped altogether, hence the company did not realise its revenue figures," said a Moststroi spokesman, as quoted by Investor.bg

Moststroi has direct investments in the capital involving six other companies in this particular industry branch.

The net unconsolidated profit for 2008 amounted to 143 000 leva, a substantial increase over the net profit for 2007, which was 5153 leva.

Currently, Moststroi's shares are down 5.6 per cent in value, valued at 2.35 leva.

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