January 30 (SeeNews) - The Bulgarian Stock Exchange [BUL:BSE], the operator of the Sofia bourse, said on Tuesday that its standalone net profit declined to some 2 million levs ($1.1 million/1 million euro) last year from 6.9 million levs in 2022, mainly due to lower revenue.
The BSE's operating revenue dropped to some 6.7 million levs in 2023 from 11.2 million levs a year earlier, the company said in a financial statement.
The group booked a 12% year-on-year increase in income from client contracts, with total revenue from services growing to 3.4 million levs from 3.1 million levs the prior year. Revenue from dividend payouts, however, went down to 2.8 million from 7.8 million levs.
The company's operating expenses rose to some 4.7 million levs in the review period from 4.3 million levs in 2022 on the back of higher costs for hired services, such as subscription, licence and consulting fees, and remuneration expenses.
In the fourth quarter of 2023, turnover on the market segments managed by the BSE dropped by 24% on the year, reaching 237.8 million levs. The decline was a result of a 17% fall in deals on the BSE's main market segment and a 40% slump in transactions on the alternative segment. In parallel, the total number of transactions on the Sofia bourse tumbled 12% to 16,428.
The number of listed financial instruments edged up to 779 at end-2023 from 775 a year earlier, mostly as a result of the admission to trading of more companies on the bonds segment of the bourse.
As of 1000 CET on Tuesday, shares in the Bulgarian Stock Exchange traded 4.64% lower at 13.35 levs on the Sofia bourse.
(1 euro = 1.95583 levs)