March 1 (SeeNews) - Bulgarian poultry producer Gradus [BUL:GR6] said that its consolidated net profit excluding minority interest fell to 10.7 million levs ($6.6 million/5.5 million euro) in 2020 from 17 million levs in 2019.
Gradus' sales fell by 9% to 140.8 million levs in 2020, due to a 52% drop in sales to third countries, which amounted to 21.5 million levs last year, figures from the company's interim financial statement, published on Saturday, show.
Domestic sales and sales in Europe both increased by 9% last year, to 94.2 million levs and 25.1 million levs, respectively.
In terms of product categories, the largest drop was seen in grain and components sales, which fell 17% to 24.4 million levs. This was also the reason for the drop in sales in third countries, as sales of grain and components on those markets plunged to 3.6 million levs from 21.6 million levs the year before.
Sales of meat and meat products decreased 8% to 66.4 million levs, while sales of breeding eggs erased 6% to 49.1 million levs.
Gradus' operating expenses slid 6% to 144.8 million levs. Cost of goods sold fell 13% to 21.5 million levs, while expenses for materials were 55 lower at 77.3 million levs.
Gradus has eight units - Gradus-1, Gradus-3, Gradus-98, Lora-2004, Millennium 2000, Zhyuliv, Gold Farm 91, and Gradus Logistics.
(1 euro = 1.95583 levs)