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Bulgaria's Gradus posts higher 9-mo cons net profit, revenue

Bulgaria's Gradus posts higher 9-mo cons net profit, revenue Author: Gradus / All rights reserved.

SOFIA (Bulgaria), November 29 (SeeNews) - Bulgarian poultry producer Gradus [BUL:GR6] said on Monday that its consolidated net profit rose to 21.5 million levs ($12.4 million/11.0 million euro) in the first nine months of 2021 from 15.2 million levs in the like period of 2020.

Sales revenue increased to some 121.6 million levs in the January-September period from 107.7 million levs in the comparable period of last year, the company said in an interim financial statement.

Domestic sales grew 9% to some 78 million levs, while sales in Europe went down 10% to 17.2 million levs. Sales in third countries jumped by 56% on the year to 26.4 million levs.

Revenue from sales of meat and meat products added 6.7% to some 53.8 million levs, while revenue from breeding eggs rose by 30.4% to 5.6 million levs. Gradus' revenue from sales of grain and feed components fell 4.85% to 17.8 million levs.

Operating expenses increased to 110.1 million levs in the review period from 103.9 million levs the year before.

The group employed an average of 1,274 people in the first nine months of 2021, down from 1,318 in the like period of 2020.

As at 15:30 CET, shares in Gradus traded flat at 1.40 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)

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