February 1 (SeeNews) - Bulgarian hotel operator Sofia Hotel Balkan [BUL:SHB] said that it turned a non-consolidated net profit of 173,000 levs ($95,822/88,453 euro) in 2022, compared to a net loss of 2.96 million levs the year prior.
Revenue soared by almost 111% year-on-year to 16.4 million levs in the review period, the company said in an interim financial statement on Monday. Income from overnights increased the most - to 9.8 million levs from 3.8 million levs, followed by food and rental revenue.
Sofia Hotel Balkan, which runs a five-star hotel of the same name in central Sofia, saw its expenses go up to 16.5 million levs last year from 11.4 million levs in 2021 as a result of increased activity and inflation.
The company's assets edged up to 148.1 million levs at the end of 2022 from 147.9 million levs a year earlier.
Shares in Sofia Hotel Balkan last traded at 97.50 levs on the Bulgarian Stock Exchange, bourse data showed.
(1 euro = 1.95583 levs)