Industrial companies improve performance

The industrial companies listed on the Bulgarian Stock Exchange improved their quarter-on-quarter performance in Jul-Sep. That emerged from a Pari daily’s survey among investors after the release of the nine-month consolidated reports. However, the third-quarter figures alone are not a good indicator. The year-on-year calculations show that industrial companies have been hit the worst by the crisis. Their poor nine-month performance was due mainly to the slump in the first half of the year.
Sectors
Construction remained the most affected sector. The third quarter was not good for banks and insurers either, analysts commented. The results of tourism companies were one of the nice surprises in the survey. Most complexes compensated the smaller number of tourists with improved profitability. Another good performer was the pharmaceutical sector.
Forecast
According to brokers, the worst for Bulgarian public companies is now over. The last three months of 2009 are expected to be better than the third quarter. Export-oriented companies are in a better situation as the major markets have started to emerge from the recession. Stock price, however, will not be influenced by the reports, brokers commented. According to them, the Bulgarian market is influenced by other factors, mainly the international stock exchange trends.

Finance

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