January 30 (SeeNews) - Cosmetics producer Bulgarian Rose [BUL:ROZA] said on Monday that its standalone net profit fell to 241,000 levs ($133,880/123,221 euro) last year from 392,000 in 2021, mostly due to a 22.8% rise in expenses.
The company’s revenue climbed to 5.1 million levs from 4.4 million levs as sales surged by an annual 28.6% to 4.98 million levs, Bulgarian Rose said in an interim financial statement. Exports contributed 39.14% of sales revenue, compared to a share of 35.55% in 2021.
Operating expenses rose to 4.9 million levs in the review period from 3.96 million levs. The increase was driven by higher costs for materials, which jumped to 1.78 million levs from 982,000 levs in 2021.
Karlovo-based Bulgarian Rose, established in 1948, manufactures cosmetic products for face, body, and hair using rose oil and locally-grown herbs. The company is part of local blue-chip industrial group Stara Planina Hold [BUL:SPH].
Shares in the company last traded at 1.70 levs on the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)