February 1 (SeeNews) - Bulgarian Real Estate Fund REIT (BREF) [BUL:BREF] said that its net profit surged to 13.3 million levs ($7.37 million/6.80 million euro) in 2022 from 3.9 million levs the year prior.
Revenue jumped to 29.8 million levs last year from 8.6 million levs in 2021, the company said in an interim financial statement on Monday.
In the fourth quarter alone, BREF's revenue came in at 8.9 million levs, up from 2.4 million levs in the same period of 2021, mainly due to revaluation of the company's property assets. BREF's assets amounted to 158.6 million levs at the end of 2022 compared with 149.4 million levs a year earlier.
The company's operating expenses went up to 16.6 million levs in the period under review from 4.7 million levs.
Shares in BREF last traded at 2.12 levs on the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)