February 27 (SeeNews) - Bulgarian farming group Agria Group Holding [BUL:AGH] posted on Monday a consolidated net profit of 78.2 million levs ($42.4 million/39.98 million euro) for 2022, sharply up from 25.57 million levs in 2021.
Revenue jumped to 728.3 million levs last year from 441.8 million levs in 2021, the company said in a financial statement.
Operating expenses added up to 652.9 million levs, up from 409.2 million levs a year earlier. Growth was driven by cost of goods sold, which jumped to 488.6 million levs from 309.5 million levs. Additionally, costs for materials surged to 108.5 million lev from 61.5 million levs.
As at CET 1606 on Monday, shares in Agria Group traded 1.11% lower at 26.70 levs on the Bulgarian Stock Exchange.
The group consolidates a number of subsidiaries active in the areas of agribusiness, storing and processing of oil crops and exports. Most recently, the company acquired bioethanol producer Almagest, gaining access to new market segments through the deal.
(1 euro = 1.95583 levs)