Cba Asset Managements 2007 Profit Reaches 1.4 Million Leva

The local CBA Asset Management, a supermarket operator, earned a profit of 1.4 million leva in 2007, according to the consolidated financial report of the company filed with the Bulgarian stock exchange. The report reflects last year's performance of three subsidiary companies of the same name based in Veliko Turnovo, Rousse and Gabrovo, Dnevnik Daily reported on March 4.

The recent share capital increase and the purchase of several stores provided a solid boost to asset growth and its own capital, shows the financial report.

Operating income was reported at 44.8 million leva, up 35 per cent year-on-year.

CBA Asset Management is poised to acquire the Varna-based supermarket chain Burlex in a deal that will add 11 outlets to its store network in north-eastern Bulgaria.

After the deal is finalised, CBA Asset Management will be operating 29 outlets with a further three rollouts scheduled for Veliko Turnovo, Sofia and Gabrovo.propertywisebulgaria.com