March 1 (SeeNews) - Bulgarian software developer Bianor Holding [BUL:BNR] said on Wednesday that its consolidated net profit sank to 277,000 levs ($150,395/141,627 euro) in 2022 from 11.5 million levs the previous year as its operating revenue decreased three times in size.
Total revenue plunged to 5.6 million levs last year from 16.1 million levs in 2021, Bianor Holding said in an annual financial statement. The result was mostly due to a lack of revenue from transactions with financial instruments against a gain of 11.5 million levs the prior year.
Bianor Holding’s operating expenses expanded by an annual 16% to 5.3 million levs in 2022, as costs for hired services went up to 2.4 million levs from 2 million levs and remuneration costs added 11% to 2.2 million levs.
Last month, Bianor Holding announced that its shareholders approved a proposal for a capital hike of up to 25 million levs and a share buyback programme targeting up to 3% of its equity capital.
Shares in Bianor Holding last traded at 19.80 levs on the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)