January 28 (SeeNews) - Bulgaria's Odessos Shiprepair Yard [BUL:5ODE] said on Tuesday that its net profit soared to 3.7 million levs ($2.1 million/1.9 million euro) in 2019 from 1.8 million levs the year before, backed by a rise in revenue.
Odessos Shiprepair Yard booked revenue of 40.4 million levs last year, up from 34.5 million levs in 2018, figures from the company's annual financial statement showed.
The company repaired 58 ships in 2019, booking revenue of 38.9 million levs from the contracts. In 2018, the company carried out repairs on 65 ships for some 30 million levs.
Odessos Shiprepair Yard's operating expenses rose to 36.7 million levs in 2019 from 32.7 million levs the year before, bumped up by expenses for materials, salaries and hired services.
The company employed 707 people at the end of 2019, up from 697 a year earlier.
(1 euro = 1.95583 levs)