March 1 (SeeNews) - Bulgarian poultry producer Gradus [BUL:GR6] said its consolidated net loss widened to 12.8 million levs ($7 million/6.5 million euro) in 2023 from 354,000 levs the prior year.
The company’s total revenue declined to 156.1 million levs last year from 178.6 million levs in 2022, Gradus said in a financial statement on Wednesday.
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Total sales fell by 4% year-on-year to 144.3 million levs in the review period, as sales to countries outside Europe sank by 40% to 14.8 million levs and domestic sales went down 4% to 92.6 million levs. In contrast, sales to European countries leapt by an annual 28% to some 37 million levs.
At the same time, Gradus' operating expenses narrowed to 169.1 million levs from 178.9 million levs on the back of a 22% drop in costs for materials.
In December, Gradus said it acquired new production equipment for its wholly-owned meat processing subsidiary Gradus-1 at a total cost of 1.87 million levs.
Shares in Gradus last traded on Thursday when they closed at 1.45 on the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)