Solarpro Holding books BGN5.8m revenue Jan-Sep 2010

Bulgarian renewable energy firm Solarpro Holding, a spin-off of mineral extracting and processing company Kaolin, reported a sales revenue of BGN 5.76 million for the first nine months of 2010, according to the company's consolidated report published on Thursday. Solarpro Holding closed 2009 with revenue of around BGN 270,000 and a loss of BGN 2.4 million. For January to September 2010, the company recorded a profit of BGN 98,000. The considerable growth in revenue was attributed to the launch of services to external customers, with proceeds from the service totalling BGN 4.02 million. The result was also favoured by the completion of several stages at various photovoltaic (PV) units, which are being built by the holding's subsidiaries. In the third quarter of the year, the company's management decided to separate its solar plant construction business in a single entity, which will be dubbed Solarpro C. Meanwhile, Solarpro expects to witness a sufficient growth in revenue in the last quarter of 2010, which is expected to be backed by a partnership agreement with US-based trading company Mitsubishi International, according to the statement. The contract will ensure supplies for the production of solar modules in Solarpro's factory in Silistra. Solarpro Holding is part of Bulgarian industrial and financial group Alfa Finance Holding, which is in turn majority-owned by Dnevnik daily and Capital weekly publisher Ivo Prokopiev.(Dnevnik)