May 31 (SeeNews) - Bulgarian River Shipping company [BUL:BRP] said that its consolidated net profit soared to 3.4 million levs ($1.9 million/1.7 million euro) in the first quarter of 2023 from 846,000 levs a year earlier.
The company's revenue nearly doubled to some 9 million levs in January-March from 4.7 million levs in the like period of 2022, Bulgarian River Shipping said in an interim financial statement on Tuesday.
Sales revenue from services surged by an annual 86% to 6.6 million levs, whereas revenue from production activities added 27% to 1 million levs.
The company's operating expenses widened to 6 million levs in the review period from 4.1 million levs in January-March 2022. The increase was chiefly due to higher costs for external services and materials, along with remuneration expenses.
Bulgarian River Shipping, founded in 1935, transports cargo among the Danube river countries.
Shares in the company last traded on Tuesday when they closed at 0.79 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)