Resort operator Albena '08 revenues to add 10%

Resort operator Albena said it anticipates a 10% increase in revenues to 105 mln levs in 2008. Net operating income is seen at around 70 mln levs. The boost will come as a result of the overhaul of accommodation facilities and an expected decrease in vacancies. Congressional tourism is expected to generate for the company 3.3 mln levs this year. Albena said its holiday complex in Primorsko is on track for 5.12 mln levs in revenues. The company is forecasting a 9% uptick in expenses to 85 mln levs in 2008 on higher payroll, food supply and financial costs. Operating profit is seen rising 9% year-on-year to 28.5 mln with net profit at 18.4 mln levs.