January 12 (SeeNews) - Bulgarian organic products maker and distributor Smart Organic [BUL:SO] said on Thursday that its consolidated sales revenue rose by 22% last year, to 58.1 million levs ($32.1 million/29.7 million euro), according to preliminary figures.
The solid performance was helped by a 24% year-on-year jump in fourth-quarter sales to 16.9 million levs, Smart Organic said in a stock exchange filing.
The company recorded strong demand, which at times exceeded its output capacity for new products. A planned new 6,000 sq m production and warehousing centre in Bozhurishte, near Sofia, is on track, with construction due to start in the first half of the second quarter and completion expected shortly before the end of 2023.
Looking ahead, Smart Organic said it has positive expectations for the next twelve months, despite the anticipated recession in Western Europe. At the end of 2022, the organic snacks manufacturer signed several contracts for developing new products, set to generate annual turnover of close to 10 million levs.
Shares in Smart Organic closed 2.10% lower at 14.00 levs on the Bulgarian Stock Exchange on Thursday.
(1 euro = 1.95583 levs)