May 30 (SeeNews) - Bulgarian poultry producer Gradus [BUL:GR6] said on Tuesday that its consolidated net profit dropped to 4.2 million levs ($2.3 million/2.1 million euro) in the first quarter of this year from 6.7 million levs in the like period of 2022.
The company’s revenue fell to 34.7 million levs in January-March from 39.6 million levs a year earlier, Gradus said in an interim financial statement.
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Total sales went down by an annual 13% to 30.5 million levs in the review period, as sales to countries outside Europe plunged by 81% to 1.8 million levs. At the same time, European sales jumped by 41% to 8.3 million levs, whereas domestic sales climbed by 4% to 20.4 million levs.
The company's operating expenses narrowed to some 30 million levs from 32.1 million levs as a result of a positive change in inventory.
As of 1545 CET on Tuesday, shares in Gradus traded flat at 1.50 on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)