Bulgarian state-owned National Electricity Company (NEK) recorded a net loss in the amount of 37.9 million euros in the first half of 2018, compared to net profit of some 750,000 euros in the same period in 2017, mostly due to increased costs of purchasing electricity.
NEK’s expenses for electricity purchases increased to 777 million euros in the first six months of the year from 723 million euros in the same period last year. The company spent 9.9 million euros for hired services in January-June period, while staff costs grew to 19.9 million euros from 17.6 million euros in the first half of 2017. Amortization costs dropped slightly to 14.5 million euros.
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Tags: Bulgaria, electricity, financial, NEK