You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Bulgaria's Bent Oil lifts 2018 net profit, revenue

Author Mario Tanev
Bulgaria's Bent Oil lifts 2018 net profit, revenue Author: Bent Oil / All rights reserved.

SOFIA (Bulgaria), June 11 (SeeNews) - Bulgarian fuel retailer Bent Oil said that its net profit rose to 10 million levs ($5.8 million/5.1 million euro) in 2018 from 8.1 million levs the year before, on the back of higher revenue.

The company's operating revenue grew to 725.1 million levs last year from 413.7 million levs in 2017, Bent Oil said in an annual financial statement on Monday.

Operating expenses increased to 713.8 million levs in 2018 from 403.8 million levs in 2017, as cost of goods sold rose by some 314 million levs to 709.1 million levs last year.

Bent Oil's assets rose to 64.3 million levs at the end of March from 57.9 million levs a year earlier, following an increase in current assets.

Bent Oil distributes and sells fuels produced by oil refinery Lukoil Neftochim Burgas. The company employs 65 people and has a fuel storage base in the city of Pleven. 

(1 euro = 1.95583 levs)