July 27 (SeeNews) - Bulgaria's Odessos Shiprepair Yard [BUL:ODES] said on Tuesday that its net profit fell to 3.1 million levs ($1.9 million/1.6 million euro) in the first half of 2021, compared with 4.1 million levs in the same period of last year.
The company's expenses rose to 22.7 million levs, compared with 17.5 million levs in the first half of 2020 mostly due to higher expenses for hired services, Varna-based Odessos Shiprepair Yard said in an interim financial statement.
At the same time, the company's revenue increased to 25.8 million levs in the first six months of 2021 from 21.6 million levs in the comparable period of last year.
A total of 24 ships were repaired at the company's facilities during the first half of 2021, up from 22 a year earlier. Revenue from ship repairs grew to 23.6 million levs, compared with 20.5 million levs in the first half of last year.
As at 10:05 CET on Tuesday, shares in Odessos Shiprepair Yard traded flat at 110 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)