May 30 (SeeNews) - Bulgarian drug trader Sopharma Trading [BUL:SFT] said on Monday that its consolidated net profit rose to 10 million levs ($5.1 million/5.5 million euro) in the first quarter of 2022 from 4.6 million levs in the same period of 2021, on the back of an increase in revenue.
Sopharma Trading's total revenue in the three months to end-March amounted to 366.6 million levs against 325.6 million levs in the first quarter of last year, the company said in an interim financial statement.
Sales of products in the company's pharmacy network formed 67.6% of the company's total sales of 364.3 million levs in the review period, while sales to hospitals accounted for 21.85%.
Sopharma Trading held a market share of 21.9% of the Bulgarian pharmaceuticals market in the first three months of 2022, including a 19.40% share on the pharmacy segment, and 29.75% on the hospital segment.
The company's expenses rose close to 11% to 353.5 million levs in the first quarter, with cost of goods sold expanding to 319.4 million levs from 286.2 million levs in the corresponding period of 2021.
Sopharma Trading is a unit of Bulgarian drug maker Sopharma [BUL:SFA], which held stake of 81.34% in the company at the end of March.
(1 euro = 1.95583 levs)