Top Bulgaria Tourist Companies See 60% Fall in Profits

This news comes after The Union of the Owners in the Sunny Beach resort reported a 20% decrease in the tourist flow. File Photo

The top tourist companies listed on the Bulgarian stock exchange have seen a 60,4% drop in profits in the first half of 2009.

An analysis of the turnover from the first six months of 2009 for the Albena Invest Holding, Elenite, Golden Sands and Sunny Day companies shows a 42% reduction y/y, down to BGN 12,23 M, Bulgarian business daily Pari reported.

Goldon Sands Ltd recorded a turnover of BGN 6,5 M, down 58% y/y. The total profit of the four companies was down 60,4 % y/y to BGN 3,64 M. Albena Invest Holding Ltd was the only one to show an increase in profits, up almost 50%.

This news comes after The Union of the Owners in the Sunny Beach resort reported a 20% decrease in the tourist flow. The State Tourist Agency also recently announced that many hotels will not even open their doors this summer.

 

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