May 31 (SeeNews) - Bulgarian poultry producer Gradus [BUL:GR6] said that its consolidated net profit excluding minority interest fell to 13.8 million levs ($8.6 million/7.1 million euro) in the first quarter of 2021 from 17.1 million levs in the same period of 2020.
Gradus' revenue fell to 48.5 million levs in the reporting period from 51.1 million levs in the comparable period of last year, the company said in an interim financial statement, published on Friday.
Domestic sales edged down 1% to 24 million levs during the review period. Exports to Europe grew 19% to 6.3 million levs, while exports to other countries dropped 33% to 7.1 million levs.
In terms of product categories, sales of meat and meat products registered the largest decrease - by 21% to 14.6 million levs. Almost all of the company's meat and meat products sales were generated in Bulgaria.
Sales of breeding eggs fell 7% to 14.4 million levs, while sales of grain and components grew 38% to 8.3 million levs.
The company's expenses edged up to 33.1 million levs in the first quarter from 32 million levs the year before, mostly due to higher cost of goods sold.
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)