You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Bulgaria's Porsche BG lifts 2018 net profit on rise in revenue

Author Mario Tanev
Bulgaria's Porsche BG lifts 2018 net profit on rise in revenue wrangler/Shutterstock.com

SOFIA (Bulgaria), June 14 (SeeNews) - Bulgaria's Porsche BG, owned by German automotive giant Volkswagen, said that its net profit rose to 11.7 million levs ($6.7 million/6.0 million euro) in 2018 from 7.9 million levs in 2017.

Porsche BG's revenue grew to 264.7 million levs last year from 235.1 million levs in 2017, the company said in an annual financial statement earlier this week.

Revenue from vehicle sales rose to 221.7 million levs from 195.0 million levs, while spare parts sales fell to 18.6 million levs from 19.1 million levs.

Cost of goods sold increased to 245.2 million levs in 2018 from 218.7 million levs the year before.

Porsche BG is the official retailer of Volkswagen and Audi vehicles in Bulgaria.

(1 euro = 1.95583 levs)

Compare