May 31 (SeeNews) - Bulgarian diversified group Doverie United Holding [BUL:DUH] said that its consolidated net profit excluding minority interests jumped to 25.1 million levs ($13.8 million/12.8 million euro) in the first quarter of 2023 from 13.5 million levs a year earlier on the back of higher revenue.
The group's revenue surged to 147.9 million levs in January-March from 100.3 million levs in the comparable period of 2022, Doverie United Holding said in an interim financial statement on Tuesday.
Net banking income grew to some 60 million levs from 40.2 million levs, whereas net insurance income fell to 1.3 million levs from 1.8 million levs. Net income from other business segments added an annual 38% to 17.2 million levs.
The company's operating expenses went up by 39% on the year to 111.3 million levs in the review period, chiefly due to higher interest expenses and costs of goods sold.
Doverie United Holding owns majority stakes in 17 companies active in various sectors of the economy, including healthcare, construction, banking, retail trade, real estate and others.
Shares in Doverie last traded on Tuesday when they closed at 8.80 levs on the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)