November 30 (SeeNews) - Bulgarian fuel retailer Petrol [BUL:PET] posted a consolidated net profit excluding minority interests of 6.9 million levs ($3.65 million/3.5 million euro) for the first nine months of 2022, compared to just 642,000 levs in the same period of 2021.
Revenue in the review period jumped to 568.4 million levs from 368.2 million levs a year earlier, the company said in an interim financial statement on Tuesday.
At the same time, operating expenses rose to 557.7 million levs from 365.1 million levs as cost of goods sold jumped to 508 million levs from 317.5 million levs.
In July, the company set up subsidiary Petrol Export with a view to facilitate wholesale fuel exports.
As of end-September, Alfa Capital was the company's largest shareholder with a stake of 28.85%, according to the statement.
Petrol operates over 300 filling stations in Bulgaria.
As at 1453 CET on Wednesday, shares in Petrol traded flat at 0.25 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)