MORE THAN 19 MILLION BTC STOCKS SOLD WITHIN A DAY
More than 19 million shares of the Bulgarian Telecommunications Company (BTC), including two big packages of 3 million and 14.4 million pieces) changed hands during the trade session on the BSE-Sofia on May 30. The average price of the stocks registered a 9.25% increase to BGN10.98/apiece.
BTC's consolidated profit dropped by 33%, reaching BGN44,967,000 for the first quarter of this year, data from the company's report, presented to the stock exchange, showed. For the same period of 2005 BTC's positive financial performance amounted to BGN66,876,000. Net sales proceeds declined by 2.2% to BGN250,500,000, down from BGN256MN year-on-year. In the non-consolidated report net sales proceeds were BGN1MN less. The telecom's financial proceeds rose by almost BGN600,000 to BGN3,232,000.
The company's expenses on economic elements increased to BGN185.9MN, up from BGN177.7MN for the first three months of 2005. That was due to the BGN6.5MN higher expenses for depreciation, which totalled BGN37.3MN, and of the BGN16.1MN costs for materials, up from BGN12MN as of end-March 2005. Expenses for external services, amounting to BGN78.4MN remained the major item in BTC's expenses. Due to the higher interest payments, worth BGN10.16MN, BTC's financial expenses rose-3-fold to BGN10.7MN.
BTC's aggregate liabilities totalled BGN492.7MN in end-March. BGN251MN of them were long-term bank credits. As of March 31 the company's money resource exceeded BGN190MN. Its share capital amounted to BGN551.901MN, and its equity - to BGN1.225BN. The company is expected to distribute to its shareholders dividends of BGN0.64 per stock.