March 10 (SeeNews) - Bulgarian software developer Bianor Holding [BUL:BNR] said that it booked a consolidated net profit excluding minority interests of 11.5 million levs ($6.5 million/5.9 million euro) last year, a sharp improvement on the net profit of 213,000 levs for 2020, as overall revenue grew nearly fourfold.
Total revenue rose to 16.1 million levs last year, compared with 4.4 million levs in 2020, Bianor Holding said in an annual financial statement last week. The result was mainly boosted by a gain of 11.5 million levs from transactions with financial instruments.
At the same time, revenue from services inched down 0.7% to 4.28 million levs in the review period.
Bianor Holding’s overall expenses widened by 12.1% year on year to 4.6 million levs in 2021. That was largely due to a 14.3% increase in remuneration expenses to just over 2 million levs, whereas expenses for external services grew 9.4% to 1.97 million levs.
In February, the software company launched a share buyback programme for up to 3% of its total equity. The programme is due to continue until September 20.
Shares in Bianor Holding last traded at 19.90 levs on the BaSE market of the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)