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Aug 31, 2023 12:31 EEST
August 31 (SeeNews) - Bulgarian River Shipping company [BUL:BRP] said its consolidated net profit dropped to some 2.5 million levs ($1.4 million/1.3 million euro) in the first half of 2023 from 4.4 million levs a year earlier.
Bulgarian River Shipping's revenue increased to 13.7 million levs in January-June from 13.3 million levs in the comparable period of 2022, the company said in an interim financial statement on Tuesday.
Sales revenue from services went up by an annual 11% to 10.1 million levs, while revenue from production activities rose by 25% to 1.9 million levs.
The company's operating expenses widened to 12.2 million levs in the review period from 9.6 million levs in the first half of 2022. The rise was mainly due to higher costs for hired services, which nearly doubled, and remuneration expenses, which climbed by 16% on the year.
Bulgarian River Shipping, founded in 1935, transports cargo among the Danube river countries.
Shares in the company last traded on August 7 when they closed at 0.83 levs on the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)
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