April 6 (SeeNews) - Bulgarian diversified group Bulgartabac Holding [BUL:57B] said on Monday that its consolidated net profit excluding minority interest soared to 32 million levs ($17.7 million/16.4 million euro) in 2019 from 2.3 million levs in 2018.
The rise was due to higher other net operating income, which jumped to 59.2 million levs last year from 5.9 million levs in 2018, Bulgartabac Holding said in an annual financial statement, without providing details on the source of this income.
The group's total consolidated operating revenue increased to 472.8 million levs in 2019 from 411 million levs the year before.
Operating expenses rose to 438 million levs from 409 million levs, as cost of goods sold grew by 102 million levs to 301 million levs.
In 2017, the group sold its biggest cigarette brands for more than 100 million euro to British American Tobacco (BAT) and has since diversified its investments.
(1 euro = 1.95583 levs)