Bulgaria's Port Varna Profits Triple Y/Y

Bulgaria's Black Sea Port Varna has seen its revenues almost triple in the first nine months of 2010, year-on-year. In January-September, Port Varna processed a total of 5.958 million tonnes of goods and materials, which is 1.112 million tonnes more than in the same period of 2009. About 1.5 million tonnes of these come for the exports of grain.

The greatest increase comes from the transport of grain, ores, coal, fertilizers, non-metalliferous minerals, and container goods, the Transport Ministry announced. Financially, Port Varna Jsc has registered a total of revenue of BGN 38.5 M vs. the total expenditure of BGN 34.9 M. The net profit of BGN 3.6 M is almost triple the port's profit in the first three quarters of 2009. Estimates for the fourth quarter show that by the end of the year, Port Varna will have processed about 8 million tonnes of goods and cargoes, an increase of 15%.

News source: Blackseagrain link article