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Bulgaria's Gradus more than trebles Q1 cons net profit

May 30, 2024, 3:34:29 PMArticle by Mihaela Miteva
share
May 30 (SeeNews) - Bulgarian poultry producer Gradus [BUL:GR6] said on Thursday that its consolidated net profit surged to 14.2 million levs ($7.9 million/7.3 million euro) in the first quarter of this year from 4.2 million levs in the same period of 2023.

Bulgaria's Gradus more than trebles Q1 cons net profit
Image source: Gradus

The company’s overall revenue jumped to 47.9 million levs in January-March from 34.7 million levs a year earlier, Gradus said in an interim financial statement.

Total sales increased by 31% on the year to 40.1 million levs in the review period, as sales to countries outside Europe grew more than fourfold to 7.36 million levs and domestic sales went up 16% to 23.7 million levs. Additionally, sales to European countries climbed by an annual 8% to some 9 million levs.

In parallel, Gradus' operating expenses widened to 32.1 million levs from some 30 million levs, mainly due to higher costs for goods sold.

Shares in Gradus last traded on Wednesday when they closed at 1.41 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)

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