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Bulgaria's Gradus posts drop in cons net profit in H1

Author Radina Veleva
Bulgaria's Gradus posts drop in cons net profit in H1 Author: Gradus Licence: All Rights Reserved

SOFIA (Bulgaria), August 30 (SeeNews) - Bulgarian poultry producer Gradus [BUL:GR6] said that its consolidated net profit inched down to 13.4 million levs ($8.1 million/6.9 million euro) in the first half of 2021 from 13.6 million levs in the same period of last year.

Sales revenue increased to some 81.5 million levs in the January-June period from 78.7 million levs in the comparable period of 2020, the company said in an interim financial statement on Friday.

Domestic sales edged up 2% to some 54 million levs, while sales in Europe added 7% to 11.7 million levs. Sales in third countries improved by 9% on the year to 15.7 million levs.

Revenue from sales of meat and meat products edged down 1% to some 34.1 million levs, while revenue from breeding eggs went up 13% to 29.8 million levs. Gradus' revenue from sales of grain and feed components inched down 2% to 17.1 million levs.

Operating expenses increased to 77.2 million levs in the review period from 74.9 million levs the year before.

The group employed an average of 1,271 people in the first half of 2021, down from 1,355 in the like period of 2020.

As at 13:15 CET, shares in Gradus traded flat at 1.46 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)

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