Sofia Properties company reports almost BGN 300,000 profit

The Sofia Properties company has declared a BGN 248,000 profit for 2009. This became evident from the financial statements of municipal firms in Sofia that will be reviewed at the Sofia Municipal Council (SMC) session tomorrow. But the more interesting fact is that the company's liabilities exceeded BGN 1.4 mln at the end of last year.
The other municipal company, which has been accruing losses for years – Egida, was with BGN 714,000 in the red for 2009, compared to the profit of BGN 11,000 for 2008. Egida is still responsible for the premises of retailers in subways, which are municipal property. Two years ago, SMC even remitted the company's debts in order to assist its financial stabilisation. The Balance Commission gave a bad evaluation of Egida’s management, considering the facts that the company fails at all tenders, manages a big staff (983 employees) and risks insolvency. Therefore, it was recommended that it should be included in this year's privatization programme.
"The report on the discovered violations at Egida has already been submitted to the Prosecutor's Office," Sofia Mayor Yordanka Fandakova said yesterday.
The financial performance of the Galatea company that manages holiday properties in some of the most famous Bulgarian resorts is also interesting. They declared losses of BGN 432,000 for 2009.
Sofia Urban Mobility Centre that manages the blue parking zone in the capital city ended the fiscal year of 2009 with a book profit of almost BGN 2.6 mln. Another successful municipal firm is Chistota-Iskar (a company for garbage collection), which reported more than BGN 3.7 mln of profit for last year.
Out of the total of 48 medical establishments, 34 posted an aggregate profit of a little over BGN 1.3 mln for 2009, and 14 had losses of overall BGN 996,000.

Text source: klassa.bg
Image: skopjediem.com

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Presentation of Mirela Real Estate