March 1 (SeeNews) - Bulgarian pharmaceuticals trader Sopharma Trading [BUL:SFT] reported on Wednesday a net profit of 8.86 million levs ($4.83 million/4.53 million euro) for 2022, up from 8.05 million levs a year earlier.
Revenue increased to 1.49 billion levs last year from 1.35 billion levs in 2021, the company said in a financial statement.
At the same time, operating expenses widened to 1.47 billion levs from 1.33 billion levs as cost of assets sold rose to 1.3 billion levs from 1.19 billion levs. Additionally, the company booked higher costs for materials, expenses for external services, amortisation costs and remuneration expenses.
In the fourth quarter alone, Sopharma Trading booked sales of 389.8 million levs. Sales of products in the company's pharmacy network formed 61.95% of total sales, while sales to hospitals accounted for 23.78%.
The company said it controlled 21.79% of the Bulgarian pharmaceuticals market in 2022, including a 19% share of the pharmacy market, and 29.56% of the hospital market.
Sopharma Trading is a unit of Bulgarian pharmaceuticals producer Sopharma [BUL:SFA], which held a stake of 87.25% in the company at the end of last year.
As at CET 1457 on Wednesday, shares in Sopharma Trading traded 0.34% higher at 5.92 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)