October 25 (SeeNews) - Bulgarian financial leasing company Elana Agrocredit [BUL:EAC] said on Tuesday that its standalone net profit decreased to 2.25 million levs ($1.13 million/1.15 million euro) in the first nine months of 2022 from 2.5 million levs in the same months of 2021.
The company’s revenue fell to 5.89 million levs in the period under review from 6.07 million levs a year earlier, Elana Agrocredit said in an interim financial statement.
Operating expenses slightly edged down to 2.90 million levs from 2.94 million levs, mostly due to lower cost of sold assets.
The company said that it was able to keep its market positions in the review period despite uncertainties related to the COVID-19 pandemic and the war in Ukraine.
According to data from the financial statement, Elana Agrocredit financed purchases of a total of 111.8 ha of agricultural land worth some 2.53 million levs in the third quarter of 2022.
The company's total assets stood at 65.9 million levs as of September 30, 2022, up from 54.47 million levs a year earlier.
As at 1336 CEST on Tuesday, shares in Elana Agrocredit closed flat at 0.995 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)