March 2 (SeeNews) - Bulgarian software group Sirma Group Holding [BUL:SKK] said that its consolidated net profit, excluding minority interest, dropped to 3.9 million levs ($2.2 million/2 million euro) in 2019 from 6.9 million levs in 2018, as its revenue remained flattish.
Sirma Group Holding consolidated revenue edged down to 61.7 million levs last year from 61.9 million levs in 2018, the company said in an annual financial statement, published on Saturday.
Operating expenses rose to 56.8 million levs in 2019 from 52.9 million levs the year before, mainly due to higher expenses for materials and salaries.
Last year, the company failed to increase its capital, as the total number of subscribed shares failed to cross the minimum success threshold.
As at 9:30 CET on Monday, Sirma Group Holding shares traded 1.25% higher at 0.486 levs. However, the 0.486 levs per share price represents a 22.2% year-to-date decrease.
(1 euro = 1.95583 levs)