Bulgargaz Turns to Loss in Q1

Bulgarian state-owned gas distributor Bulgargaz said it posted a net loss of 15.2 million levs ($8.7 million/7.8 million euro) in the first quarter of 2015.

In the like period a year earlier, Bulgargaz reported a net profit of 29.5 million levs, it said in a financial report published on the website of the country's finance ministry on Tuesday.

First-quarter revenues, however, grew to 505 million levs from 481 million levs in the like period last year, it added.

Gas consumption by industrial clients rose by an annual 9.55% in the three-month period, to 837 million cubic metres.

Bulgargas is part of the Bulgarian Energy Holding (BEH).

Source: SeeNews