Navigation Maritime Bulgare (Navibulgar) posted a net profit of BGN 6.896 million for the first quarter of 2004, up by BGN 35 million compared to the corresponding period last year, according to the company's consolidated report published on the Bulgarian Stock Exchange (BSE). Company's consolidated sales revenue reached BGN 89.189 million, 85% of which were generated from services. The total assets grew to BGN 660.147 million, an increase of 3.0%. More than 80% of the assets are long-term ones, including transport vehicles worth BGN 515 million. Navibulgare's liabilities stood at BGN 231 million and the bulk of them is comprised of long-term loans and rescheduled tax payments. The company has a share capital of BGN 423 million. The company's total liquidity ratio amounts to only 0.86, which is, however, characteristic of the companies such as Navibulgar.