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Bulgaria's Elana Agrocredit ups H1 net profit, nearly triples revenue

Author Mario Tanev
Bulgaria's Elana Agrocredit ups H1 net profit, nearly triples revenue oticki/Shutterstock.com

SOFIA (Bulgaria), July 22 (SeeNews) - Bulgarian financial leasing company Elana Agrocredit [BUL:0EA] said that its net profit increased to 1.6 million levs ($918,000/818,000 euro) in the first half of 2019 from 1.3 million levs in the same period of 2018, backed by a sharp rise in revenue.

Elana Agrocredit's revenue nearly tripled to 6.5 million levs in the first six months of 2019 from 2.4 million levs in the comparable period of 2018, the company said in an annual financial statement on Friday.

The company's expenses grew to 4.8 million levs in the review period from 913,000 levs the year before.

Elana Agrocredit's assets fell to 60.6 million levs at the end of June from 64.1 million levs a year earlier, mostly due to a decrease in cash deposits.

(1 euro = 1.95583 levs)

 

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