KAPITAL 100: BULGARIA'S LARGEST COMPANIES ENJOY 16% REVENUE GROWTH IN 2010

Bulgaria's largest companies registered a combined 16 per cent growth in revenue in 2010, according to the Kapital 100 annual ranking drawn up by business weekly Kapital.

Bourgas-based oil refinery Lukoil Neftochim cemented its top spot as the nation's biggest company with revenue of 5.46 billion leva in 2010. Runner-up was Lukoil Bulgaria, the local retail division of the Russian oil giant. Third came Pirdop-based copper plant Aurubis, replacing the National Electricity Company, which dropped to fourth place.

The companies' results were chiefly bolstered by the increase in oil and copper prices. The major reason behind the improvement in the performance of most companies in the fifth edition of the Kapital 100 ranking, however, was the strong level of exports, which jumped 33 per cent from the previous year.

Exports mainly contributed to the results of local metallurgical plants, engineering companies, grain traders and international transport firms.

Among Bulgaria's top 10 companies were also mobile operator Mobiltel and the Bulgarian Telecommunications Company (BTC), operating under the Vivacom brand.