March 2 (SeeNews) - Bulgarian fuel retailer Petrol [BUL:PET] said that it turned a consolidated net profit of 13.4 million levs ($7.32 million/6.85 million euro) in 2022 after a loss of 25.4 million levs in the year prior.
Revenue surged to 828.7 million levs last year from 500.5 million levs in 2021, Petrol said in an annual financial statement on Wednesday.
At the same time, operating expenses increased to 814.8 million levs from 508.7 million levs, as the cost of goods sold added 70% on the year to 740.7 million levs.
Last month, Petrol said that it plans to decrease its equity capital to 27.3 million levs from 109.25 million levs by reducing the nominal value of its shares in order to cover losses.
Petrol operates over 300 filling stations in Bulgaria.
Shares in Petrol last traded at 0.21 levs on the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)