February 27 (SeeNews) - Bulgarian farming group Agria Group Holding [BUL:A72] said on Wednesday that its consolidated net profit edged up to 14.8 million levs ($8.6 million/7.6 million euro) in 2018 from 14.7 million levs the year before.
Shortly before the Bulgarian Stock Exchange closing bell, Agria Group Holding shares traded 9.43% higher at 11.6 levs.
The company's revenue grew sharply to 280.4 million levs last year from 187.1 million levs in 2017, Agria Group Holding said in an unaudited financial statement.
Total expenses increased to 265.6 million levs in 2018 from 172.5 million levs a year earlier, mainly due to a rise in cost of goods sold.
In August 2018, the European Investment Bank approved a 14 million euro loan to Agria Group Holding for the construction of a port facility on the Black Sea coast, intended for storage, handling and export of agricultural produce. The project's total estimated cost is 29 million euro.
Agria Group Holding's main clients include Glencore Grain, Cargill Bulgaria, Soufflet Negoce - France, ADM Bulgaria and others.
(1 euro = 1.95583 levs)