Bulgaria's Petrol cuts Q1 cons net loss

Overall revenue in January-March declined to 117.1 million levs from 139.6 million levs a year earlier, the company said in an interim financial statement last week. Of that, sales of goods generated some 112.9 million levs, down from 137.5 million levs in the first three months of 2023.

In parallel, operating expenses shrank to 118.5 million levs from 142.2 million levs as costs of goods sold dropped to 100.6 million levs from 125 million levs.

Petrol operates over 300 filling stations across Bulgaria and has 24 subsidiaries active in fuel trading and storage.

As of 1055 CEST on Wednesday, shares in Petrol traded 4.76% lower at 0.80 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)