June 24 (SeeNews) - Bulgarian fuel trader Saksa said that its net profit rose to 17.7 million levs ($10.3 million/9.0 million euro) in 2018 from 12.3 million levs the year before, as its revenue soared.
Saksa booked revenue of 1.70 billion levs last year, sharply up from 1.08 billion levs in 2017, the company said in an annual financial statement on Friday.
Cost of goods sold grew to 1.65 billion levs in 2018 from 1.07 billion levs in 2017.
Expenses for hired services increased to 14.8 million levs in 2018 from 11.4 million levs the year before, while personnel expenses rose to 12.2 million levs from 10.2 million levs.
Saksa's assets increased to 207.3 million levs at the end of 2018 from 182.8 million levs a year earlier, following a rise in current assets.
The company employed an average of 345 people in 2018, compared to 322 in 2017.
At the end of 2018 the company was owned by three private individuals - Atanas Dimov, Svetozar Dimov and Krum Dimov, with stakes of 40%, 35% and 25%, respectively.
Saksa is based in Dolna Banya, Sofia Region. The company’s partners include OMV Bulgaria, ECO Bulgaria, Shell Bulgaria and Naftex Petrol.
(1 euro = 1.95583 levs)